BAGAKOAA; 11-12 May 2011 Good And Plenty And A Whole Lot More 

 

Post 428May/2011

 

Good And Plenty And A Whole Lot More

 angels

We are actually starting this post at 11:37 PM.  Ya see we went to the Los Angeles Angels baseball game tonight where the Angels won 4 to 1 against the Chicago White Sox.  Well that was the score when we left in the 8th inning.  We left confident that the Devin Cronin curse had been broken again.  Ya see every time Devin goes to an Angel Game they loose. 

 

We arrived about 6:30 and Devin made a bee line to the bar stand and  I asked do you want a beer or just go to our seats.  She looked at me as if I was stupid so we got a couple of beers.  Who am I to argue with a brilliant beautiful woman.  (Just in case she is reading this post.)  We then went to the seats to enjoy our second game of the season.  Before long we were scarfing down peanuts and Devin almost accosted the man selling the foot long hot dogs.  She ordered three and for a second Jack and I were actually wondering if that order included us?  She was on a ravenous binge, but we got lucky and were allowed to partake. 

 churro

Minutes afterward Devin's eye lit up when she heard the word "Churro".  That was the first inning.  Just kidding, by the fifth inning she was done eating and needed water to hydrate form the copious amount of sodium laced beef hot dog. 

 

Since it was a school night and I have to have to have a kick boxing match with one of our contractors in the morning, we chose to beg out early with the Angels leading the Sox in the eighth.  Much to my surprise, by the time I started this blog I discovered the Sox came back and one in the 10th inning.

 cry angel

When we arrived home my lovely wife went to our new pantry and pulled out a box of sugar pops and helped herself to a bowl.  I warned the dogs to stay out of her way or they might get eaten.  Just when I thought she could eat no more, I heard the rattle of a cardboard box and heard Devin yell, "Charlie Says, Love My Good And Plenty".  If you are too young for that kids, ask your mom and dad.

 choo

Now I can tell by the comments of late, no one really cares about the stock information or the investment strategies.  I know this because I busted a hump with all the good stuff from last nights post and all I got back from several people was how much I looked like Burl Ives.  Come on kids your killing me here.  Burl Ives.  I'll Have you Know in my prime (about two years ago) I was a body double for Shrek.  Now please focus.  Occasionally I do have some brilliant stuff to say. 

 

 In The Market Today

in the market worried

 

It was kind of a hell in a hand basket today.  The trade deficit was higher than expected (mostly because of energy related imports-there's a surprise.) and when combined with a hotter than anticipated CPI out of china, the market went from bad to worse and stayed there most of the day.  Please note we are seeing heavier volume on these down days than we are on the previous up days, not a good sign.  Gold was down, silver was down, oil was down, everything was down.  (Apparently the sides of beef market did not have an inkling of Devin's ravenous attack on hot dogs tonight or they may have held their levels.)  The market formerly known as a Bull market is very much in correction.   

 

That means unless you are playing a contrarian bet, buying anything right now is not recommended unless it is one of your core holdings and the you stock did not follow the market today.  Example, The Dow was down about a point today (so was the S&P 500 so we don't mind referencing either) if your core holding was flat or down.25% you might consider buying on the weakness, but you have to have real conviction on the bet.

 

In or main portfolio we took some nice profits on a call and put play around our long position on SLV.  On Monday we sold some Friday calls and bought some June Puts.  With the downward correction we generated a nice profit on both.  We took the money and ran even though the long position is back here we bought it on Thursday.  We will probably attempt this again on Friday and play the volatility of the frothy market.  (If anyone want a detailed description of the actual trades, drop me a note.)  OPTIONS ARE VERY RISKY>  I HAVE THE LOSSES TO PROVE IT.

 

I'm going to leave you with this.  Tomorrow we have the initial jobless claim numbers.  Our continued recovery depends on a couple of things.  It is the same two things I mentioned back in 2009.  Jobs and Housing.  Housing is in the crapper, sorry but its true.  Schiller of the infamous Schiller index is expecting another 15-20% down in value over the next 24 months as banks purge and write off the "Dead" mortgages.  That leaves Jobs.  We are seeing some improvement in the job market, but we have had three week of an increasing initial jobless claim report.  If tomorrow's report disappoints (which we think it will), with the downward volume we saw today, the market could breach some significant support levels and we could see a 5-9% hit over the next several trading sessions.  Let's hope I am just exhausted from watching Devin consume so much food. 

 

Salve Lucrum

 

 

 

  

 

 

 

 

 

 

 

Brian Ireland
BAGAKOAA;

I am not a professional investment advisor. Anybody reading my blog and investing accordingly must be out of their minds. I have made more money than I have lost. There are many more qualified people than I to actually tell you how to invest your money.

BAGAKOAA=Boys And Girls And Kids Of All Ages

Salve Lucrum=Latin for Hurrah for Profit.

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