Comment by Phil

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Phil
September 12th, 2011 at 10:51 am

QID/Sank – Yes, of course.  That goes for all very short-term short positions in our virtual portfolios etc.  If it’s up, then take the profits and we can always find something else to sell if we fail to hold the bounce.  

Obama is speaking soon and maybe we’ll go up or down but, so far, we’re holding up very well against the EU, which is still down 1.5% on FTSE, 2% on DAX and 3.3% on CAC but all off their lows and at day’s highs with 1 hour to go.  

AFL making year lows.  That’s getting attractive.  

FAS/StJ – I thought we were getting out of those and moving to something less volatile?

Bonds/Angel – But don’t you think Human history, is, to a large extent, nothing more than cavorting from one crisis to the next?  I think the difference is that, these days, we’ve made the huge mistake of interconnecting all of our economies so a flood in the Ganges now affects farmers on the Mississippi Delta.  Another thing I see these days is that high-speed communications make the US stock market instantly react to a guy blowing himself up in a cafe in Kabul – these were all things we couldn’t have cared less about 20 years ago – now we hit the sell button as soon as something nuclear happens in France – regardless of what the facts are.  

EDZ/Lincoln – Yes but $2.55 is a lot, isn’t it?  You are risking $2.55 to make, at most $1.05 – that’s certainly not the original play you signed up for, is it?  The shorter your timeframes, the tighter your stops, that’s all there is to it.  If you want to maintain protection, you can roll the $21 calls ($4.20) to the Oct $25 calls for about .20 and the plan would be for the $26 calls to expire worthless and then you sell something else for $3 (currently the $30s) and you end up in a free $4 Oct spread with profits already off the table.  

Dollar killing us, back to 77.90!  

BRCM/CJJ – I haven’t had the chance to do the math on the purchase but I don’t think this turns me off BRCM long-term.