Market Operations and Observations
I did some work last night using the iBankCoin PPT because I am feeling better than I have in two weeks. I built a new screen that I think will be pretty cool. I did not find a stock that was quite what I was looking for (screens reset every day) but a close one was GFIG. I figured close enough and opened a position today. Maybe over the weekend I will go over what I was looking for.
I opened another position today, but this one was 100% based on a great observation, then a big time call by the best market operator I know. The idea was found in the iBankCoin 12631 Premium section of the PPT so I cannot disclose what it was, it is a paid service. Should the maker of the call disclose it later next week, I will let you know what it was. It was a long position.
A couple of observations today. The first was a chart found at TRB and FT Alphavillewhich showed that after fake AAA rated debt about killed the financial system a couple years back, it is now
Second observation is from an article on Minyanville that finally captures what I think has been so strange about markets since the big bottom in 2009. Ask Atlantic Capital Management:
It used to be said that stocks climb a wall of worry under constant pressure of potential bad news that could derail the risk appetite of a broad spectrum of the investor class. When bad news came, corrections used to be much sharper and far more compressed than the upward moves that preceded them.Worth thinking about.
In so many ways, we are now living out a Far Side cartoon, including the general inversion of process and logic. For six consecutive weeks, stock sellers rode the wall of worry; not over news, but over the idea of missing out on the next massive rally. That downward trend was the cautious move, the slowly developing inclination developed by actual data. Rather than the traditional trend of investors deploying capital capriciously and carefully, yanking it out quickly at the first sign of trouble, we now see investors sell carefully at a very measured pace and then rapidly buy at the first sign of a potential rally. Just like bad news that used to jolt the old market into correction, Greece happened to get “fixed” and stocks were off to the races.
Friday Night Entertainment
Is it really July 15th already?
With the "Harry Potter" films wrapping up now may be a good time to check out a screen test for the 3 major stars back when they were just little kids:
Io9: Harry Potter Screen Test
If the debt ceiling is not raised, this will happen and there will be tanks on the street and stuff:
see more funny videos, and check out our Yo Dawg lols!
For Josh Brown and Dinosaur Trader
If I could submit a tune for the TRB Mixtape Section, this would be my pick:
High Speed Internet
Reader Watchtower has joined the new era and upgraded to high speed Internet. Welcome to the monster cable bill world bro! He must have been using it to answer the trivia last week as he won a copy of "Creep" (shipping in the morning). Anyways, Watchtower is armed with a new power, what should he watch?
Here is a quick list:
-Hagler vs. Hearns Round 1
-Hagler vs Leonard Round 9 (skip to 6:54 mark)
-Ward vs. Gatti Round 9
-Randy Rhoads does Revelation Mother Earth on the Tribute album. Entire song is magic, but go to the 4:50 mark to get crazy!
That should get you started.
Films and Stuff
One of my all time favorite films is "3 O' Clock High". In this scene the "wimp" Jerry Mitchell hires the school football jock to fight the bully, Buddy Revell. It does not go as planned:
Yes, that's Charlie form "Young Guns".
How about the wormhole scene from "Contact"?:
Rock for the ages.
My friend Au Soleil Levant is the toughest person I know. It happens to be her birthday today and so she gets the lead off spot. Why don't the readers swing on by and drop a happy birthday message? I am sure it would mean a lot.
For the birthday girl, The Dixie Chicks perform "Some Times You Gotta Dance":
Gawains was looking for "Out on the Weekend" by Neil Young and it's a good one:
Seeing that we had some live Ozzy/Randy above, here is the studio version of "S.A.T.O":
Short show tonight. Had this up a while ago, but heard it today so you are stuck with "Jar of Hearts" by Christina Perri:
Have a good night.