Well, my fellow Slope-a-Dopes, the time has finally come. The Idiot Savant has had more than enough. BDI has unequivocally decided to prick Big Bad Ben Bernanke’s Bloviated Bubble Butt. I have outlined below seven fine needles and six sharp scalpels that I shall use to slice and slay his sorry sagging ass: (more…)
By happenstance, I noticed that there was a huge explosion in the purchase of BBY puts (the $35 weekly in particular) the day before the big announcement. (You remember Best Buy, right? I was tooting my own horn about it yesterday. But, of course, it was just an “occasional winner”, right?) This option was up 1600% the next day. I looked at other contracts, and there was nothing weird. But someone knew something, and they knew just what to buy to profit…… (more…)
TRAN called the action yesterday best, as I suspected when I proposed it as my confirmation index yesterday morning. TRAN hit the ascending triangle target at the opening high, then retraced to retest broken falling channel resistance, then rallied for the rest of the day. The next obvious target is a retest of the highs and possibly making the second high of a larger double-top there. TRAN 60min chart: (more…)
I guess we finally have a government that truly represents Americuh.
Well, the word is that Congress has put together a budget deal that will settle up the financial debate for 2014 and 2015. Although it needs to actually pass Congress, it already seems likely that it will, and from what I’ve read so far, it looks like business as usual: the modest reductions in spending that were in place are already being dismantled, and a handful of puny revenue enhancements (like an extra $2.50 for airplane trips) is supposed to plug the hole. With a $17 trillion deficit, the U.S. shouldn’t even bother monkeying around with $2.50 fees. If it’s going to ride the road to ruin, it might as well slam on the accelerator and do it in style.
I, for one, am not going to miss going through another round of antics with Reid, Boehner, and all the other nitwits we had to stomach in late September and early October. I do think, however, that Congress has been lulled into a sense of financial complacency by the tentatively-healthy economy. As things sour in the months ahead on the financial scene, the situation with the finances of the U.S. government are going to go from bad to worse.