Good morning Maurice,
On this trade that you referred to …
Message 18500597
Tuesday, Jan 28, 2003 10:16 AM
(a) I purchased a whole lot of QCOM shares at 36.90/shr
(b) Shorted equivalent number of QCOM July Call 37.5 at 4.80/shr
(c) Shorted a lot of QCOM July Put 35 at 4.00/shr
Net starting position thus at USD 28.1
QCOM shares now kneels at 33.91/shr
Shorted QCOM July Call 37.5 can be bought back at ask 3.40
Shorted QCOM July Put 35 can be bought back at ask 5.60
Net current position at 24.91.
So, Net net, I am down 3.19, and the share is down 2.99, as the volatility increase is continuing. I am not worried yet even though a lot of CDMA capacity may be erased soon in Japan and Korea, because I have more than 32 times more of that contra-CDMA asset, gold.
Responding to your …
Message 18568836
<<… QCOM … I did buy them when they were $4 [and less], so I suppose I shouldn't complain that you've paid over 8x as much>>
… that kind of math does not fly on this thread. A day you do not sell is a day you bought, and by that logic, you bought QCOM at the absolute peak price and watched it drop, day after awful day, month after terrible month, and are hoping against wish that QCOM will return and surpass its peak price, the price at which you bought.
<<I'm less brave than you>> perhaps due to fact that you are less sure of what you see and not so convinced about what they mean, or maybe I am feeling as infallible as Greensputin must have at one time and being set up for a fall?
And responding to your …
Message 18571902
<<Huangpu River>> … you are likely right about the reference. It is a well known river traversing from Yangtze River through Shanghai and then to the sea.
<<Where's Jiangsu?>> it is a province that, together with Zhejiang Province, surrounds Shanghai City.
<<noble buildings … 1920>>
Many of these buildings are being renovated and saved from destruction.
<<So, where's the worry?>>
Oh, you know, TEOTWAWKI*, with inexperienced politicians and dumb financiers leading us to it, and a world where some folks feel the need for food with 2-year shelf life and others prefer duck tape to roast duck.
Japan just spelt out its version of preemptive strike, after N.Korea did so, echoing Australia, who supporting Britain, and in line with the US.
As Japan has done so, and so S.Korea will eventually have to either support their Northern cousins or ex-militarist-colonialists in Japan who still pay respect to their war criminals, and … and … and, eventually leading to Japanese repatriation of their much mistreated funds from various overseas locales … and … and … and … oh, you know.
All this excitement, just in a tiny insignificant corner of N.E. Asia, providing much opportunity in midst of perceived danger.
I watched Tony Blair and John Howard’s joint press conference on CNN yesterday, and I noted that they spoke of Iraq, N.Korea and very excitingly, Zimbabwe. My thoughts naturally turned to my precious ZimPlat.
I am blessed to have so many look after my narrow and selfish interest in this so very busy world, financed by so many more. Each one of us is like an insect on a juicy host, one must find the powerfully pumping vein, by sensing its telltale pulse, and tap into its nutritious energy. Any nobler self-image is self-delusional.
Continue with the “blessed” and “Japan” theme, both the N.Korea and Japanese government are talking down the value of my Yen loan, which I used in part to finance my gold, platinum and our different QCOM bets;0)
And, BTW, I am also not so worried about TEOTWAWKI, because I have the trans-temporal vessel for savings, gold, and the ever-trustworthy trans-geographic metal of value, platinum. Besides, I do agree with you, that we are in process of transition to a new and better world, of justice, peace, equality, harmony and light.
Chugs, Jay
* TEOTWAWKI = the end of this world as we know it, per Bill Bonner |
