Archive - Aug 2011 - Blog entry

Here we go again...

"This is a memo that describes how we’re going to take out seven countries in five years, starting with Iraq, and then Syria, Lebanon, Libya, Somalia, Sudan and, finishing off, Iran."

Lots of BS stories today. Also some bad reporting.

We believe an investigation into the firing of the two attorneys tasked with investigating foreclosure fraud will absolve Ms. Bondi of the totally unfair and very mean allegations of wrongdoing and corruption.

Comic relief came yesterday in the novel form of a Colorado shootout that put the until-recently-unheard-of Dougherty Gang behind bars and left gun-moll and self-styled redneck stripper Lee-Gracey Dougherty with an exit wound in her leg.  Only in America, as they say.  As we went to press early Thursday morning following an all-day outage of Rick’s Picks (and a thousand other web sites served by a Dallas data center that was hit by a power blackout), the Bonnie-and-Clyde wannabees were still the top story on Google news, proving that timing is everything if you want to be an overnight sensation.

"But brothers, this biting of their toe-nails over what causes badness is what turns me into a fine laughing malchick."--Clockwork Orange

Here is the next installment of the public evidence of a bank run in France. This is literally a carbon copy of Bear Stearns/Lehman Brothers, just on a larger scale. Listen to that sucking sound. It's the illustion of liquidity hitting the hard wall of reality! You heard it hear first.

The Swiss squeeze short-dates. What does that mean?

All you need to know.

This is a TERRIBLE market to be invested in.

Yesterday was a rough, tumultuous ride. I went from supreme confidence to getting bloodied up. If you remember, the BoomBustBlog traders recommended a grab for profits or a gamma hedge. I decided to go all in to FIRE sector short risk, with just a wide trailing stop to protect me. I was quite comfortable up to the last 40 minutes of the session, wherein it seems as if Bernanke's floor traders swept in to teach smart asses such as my self a valuable lesson. Fortunately, CBs can only affect the markets, they can't control them.

On all those Experts by www.thetrader.se

Helicopter Ben Bernanke pusherman

The question is, "Will we make it till friday before a Euro bailout?'

In a wonderful piece of financial engineering, the Federal Reserve has reduced the duration of the recent bear market to 36 hours.