Thursday, February 03, 2011

Updated Position (more cowbell)

What's clear to me is - well, nothing is clear to me, but what I suspect is inflating the market in a virtual straight line still, is indicating tomorrow's prices (prices for everything!) will be much higher than currently considered.

Did that make sense? It doesn't matter.

Now, this doesn't mean you'll be able to sell your DJIA for any greater #shares of groceries in the future. The market could double in the next two years and you're eating from the same recycled bag. If you hold cash though, my conservative friend, you will eat cake instead.

Widows and orphans, fixed-income fossils...beware.

Ben Bernanke is pleased. He's running the biggest experiment in the history of economics and pleased about the lack of inflationary pressures. In fact, pleased came up often in his transcript today. Here was the most notable sample...
I am pleased to report, the release of tigers into the streets has been a significant factor in reducing the population of rats.
That's right, Ben is a man among nerds and rats are in shorter supply, thanks to Ben. The solution to the problem was easy. Never mind the paws ... Release more tigers!

If I appear bitter, well that's just my veneer. Underneath I'm warm and cozy. If all I need to do to make money is shut-up and buy, my job is one-way easy.

My last short covered was VMC after today's open. They missed badly on EPS and stunk it up then with guidance. If I'd have held that home run I would have been thrown-out trying to get to second (back to the dugout sucker!). LVS tonight has missed revenues and won't even take out the week's low. Yes, there are debacles here and there still (CSTR tonight). But more and more lately, a guy holding shorts is having trouble getting around first base safely, and he's risking his very TA to get there (that one would have left a mark on a few).

As I need to hedge going forward (and tomorrow's jobs report is the next potential catalyst), I will be jumping on the indexes, but not individual shorts (1-3 day infrequent trades aside).

Until Mr. and Mrs. Phil Bernanke's son can spell egg on his face, I'm done with individual shorts.

Follow Centrifugal to fade trades in real time

Total Position: Currently 100% net-long, 62% invested

Currently Long (according to size): WLT (reloaded today, 14.9%); CRM (reduced yesterday, 13.9%); APKT (reloaded today, 10.3%); BTU (added today, 10%); ASYS (reloaded today, 7.7%); CENX (4.9%)

Currently Short: no current position

Futures: no current position

No comments: