I don't know what just happened around 12:15 PM EST but in the words of Olivia Newton John
"Let's Get Vertical, Vertical
I wanna get vertical, let's get into vertical"
(note - this video is so wrong... so very wrong. Aside from Olivia. Those of you under the age of 35 who are not aware of such video and music... be afraid. Very afraid.)
My suspicion is Goldman was assured through back channels this is all a charade and it will be business as usual. They just need to be flogged publicly for appearance sake. Word got to Blankfein around 12:10 PM.
I switched from those nasty SPY puts to some SPY calls. Hopefully the market can dump tomorrow back below the 20 day moving average so I can lose money yet again. Rinse. Wash. Repeat.
But most of all be physical ....err vertical.
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows