Hi Joel,
To spoil the joys of the believers in Greenspan, a man so responsible for what is coming, I must report that I feel great today. Here are my reasons …
Good news is that Big Al’s indicated interest in rate decrease, if not executed, will cause the final burst, and if executed but not accompanied by liquidity increase, will be of little use. Lowering the price of Coca-cola in the middle of Sahara desert is meaningless unless the cans, bottles, boxes, trucks are brimming over with the magical elixir, and ice is plentiful.
And if the rate is decreased and liquidity turns from trickle to flood, I will be brave enough to massively short, or at least sell a giant dollop of naked LEAP calls. And certainly I will take the opportunity to go against my mom’s wishes and sell her portfolio without discrimination.
Better news is that my Yahoo! trade for platinum watch is looking good, and is now just a question of whether I should get ready to buy back my Puts and settle for the Rolex Yachtmaster (mid-size) platinum bezel, or let it ride and settle for a Philip Patek 5100 series, or settle for something in between, though without waiting for availability and go for a IWC.
Best news is that all can be ordered from Germany at duper bargains after accounting for Value-added Tax refund and the still so very strong dollar. Yes, I am hedging and changing some HK$ into DM even before I make my final decision.
Only bad news is both the Rolex and the PP are in short supply and require a 6 months wait.
Keep the faith, and be ready to short come mid-late January.
Chugs, Jay |
