Thursday, September 23, 2010

Bookkeeping: Covering Most of TNA/BGU Shorts; Going Long via SPY Calls

S&P 1134 finally broke and I am convinced the only way to stop the market's rally is for me to go long.   I've covered 95% of my TNA/BGU shorts that I put on this morning around 1129-1130 for loss here and have rolled into SPY calls because as we all know now....the market can only go up.  Especially with Monday morning around the corner, which means... well you know the story.   (please note - I'd gladly take a bath on this call position just so the market will go down)    Also tomorrow is a POMO day which means we will get some extra juice from primary dealers taking the Fed's money to "do God's work".

I bought SPY Oct 114 Calls but does it matter? You can buy anything and Ben assures you of winning.  Throw a dart, and enjoy America's new prosperity.  On a related note I just read Michigan banning the use of "bridge" cards (i.e. debit cards for welfare recipients) to withdraw money at ATM's inside Detroit casinos.  What party poopers - all Americnas deserve to gamble, it's in the constitution.  Oh well, guess they will have to use the ATM right outside the casino ....

You know who has not made an appearance in a long time?  It's time to bring him out.

Long SPY Oct 114 calls and Kool Aid in fund; no personal position


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