Hi Pezz, <<sold off all my EUNI @ 7.25...Small profit but I just didn't like the way t'was acting ...And... had a little trouble sleeping last night>> and …
Message 16909779
<<Sold my SSFT @ average 5.19 … Bought EUNI @ average 6.84 … and more ELTE @ 12.35>>
Most wise, very wise, perhaps not so good, and possibly not prudent. Then again, you are deliberately not prudent, which then is OK. My head is spinning and a bit faint as well.
Speaking of fainting, while I was younger still, I had a most strange experience that may relate to all the thread comments on Mr. Bush’s recent encounter with the carpet.
I was at the time suffering from mild food poisoning. I had my dental retainer firmly lodged in my mouth. I was taking a vicious p*ss. I felt a sneeze coming on. My brain went into parallel processing mode in response, and I tried to suppress the sneeze even as I pushed my tongue against the retainer to prevent it from dislodging into the toilet should I fail to suppress the sneeze. I thought I had the entire spectrum of possibilities covered, tongue in cheek, as it were.
Strangely, the sequence of events resulted in a twisted tongue muscle (very painful), dental retainer dislodged into the toilet (very yucky), and other messy happenings you can well imagine, requiring a change of clothing and copious application of the household product Mr. Clean. No pretzel was involved, as far as I recall.
The Model Portfolio
Message 16830817
… is again OK this week, with gold shares rising and Yen tanking. The shorted put positions are all profitable, and the long call position is too. The shorted call position is comparatively in very small loss state. Overall Model Portfolio is up 1% YTD.
The real Portfolio
Message 16898477
(near end of post)
… is quiescent.
Jumble Fixed Deposit on 1-week auto rollover at HSBC that in normal time would be earning enough to buy two ounces of gold each and every week is now generating just enough for two McDonald’s Big Breakfast packs, also per week. Uncle Greenskaput is helping all to reduce cholesterol intake, and raising the capital-backing requirement to fully fund a perpetual Big Mac per three days habit.
HK mortgage rate should hit 3% within days.
Under the circumstances, am I going to increase my discretionary spending, on things to consume, especially Big Macs, while having poor visibility on where more spending power will come from?
Should I raise allocation to stocks, given that just about everybody else already did, all waiting for a rise in interest rate to give the final signal to exit?
Maybe switch the Fixed Deposit to corporate bonds as corporate bankruptcy is hitting ever-bolder records?
What about grabbing hold of the two bits (of dice) and take a roll in small caps, in an ever stranger environment where even pretzels can causes fainting spells?
That leaves me with US Treasury strips with 5 year and longer durations earning something, but sure to suffer some principle purchasing power loss when capital demands respect.
Or, just wait, perhaps not so silently.
Pezz, the drama is awesome, and going your way.
David, the HK street scenes are OK, with unemployment at 5.6%, shops full, though wildly discounted.
CB, it is difficult to change from the drum of doom to the clarion call of effortless pro forma prosperity, at this juncture, just yet, because we are not in a new chapter of the script, not by a long shot. We just got to the part where the tongue is pushed against the dental retainer, attempting to avert what will and must ultimately be, else we would be buying stocks.
Chugs, Jay |
