Jim P.... a couple of questions?
Jim, many threadsters have "PM'd" me and
asked me - to ask you...for an update of
your thoughts here... so I'm askin' !
As I said before... we agree on far more,
than we disagree on... in fact, we disagree
on very little.
My basic strategy tradingwise was that on
this initial correction in financials - that
we'd see the Fed, the Treasury and the "PPT"
do whatever they needed to do...to right the ship.
...and they did.
The 2nd part of my strategy and by far the most
important part... was that the market
would react positively to their intervention
and stimulus.
...and they did.
In all... it rolls up into one of my favorite
trading strategies:
"Never interrupt your enemy
when he is making a mistake."
-- Napoleon Bonaparte
...and they did
-- make mistakes.
Both Oil and Gold are speaking loudly about
those mistakes.
I felt Goldman/GS would be "the" major beneficiary
of the Fed, the Treasury and the "PPT's" bailout.
...and they were.
GS above all others, have always profited greatly
by trading against their own clients in times of market
turmoil. We covered this in volumes back during the
implosions in Nat Gas, with Mother Rock & Amaranth.
Goldman knows what the most valuable commodity in
the world is, was and will always be...information.
-- and they possess it in spades - like no other.
I also thought that Gold would offer better
risk:reward opportunities than shorting, or
going long the broad market.
...and it was.
But now... the market has had time to digest the
effects of the Fed, the Treasury and the PPT's
bailout...and time to sort out the continuing
after-effects of the rollover in housing and the
credit crunch.
Now... we've had time to see "inside" the financials
of the financials...as they report earnings.
Now... the fog has cleared.
Now... the numbers are gaining clarity.
Now... the market has had time to 2nd guess themselves.
Now... they are starting to think about protecting and
locking in gains for year 2007.
Now... the bag has been passed off to the public.
And now... the Fed is in a bit of a box, they've fired
many of their bullets (many, not all) and the smoke
of the battle field has now cleared.
Curious, as to what you see and think -- here and now.
S.O.T.B. |
