Money market funds are closing http://online.wsj.com/article/SB10001424053111904070604576516333998146982.html?mod=googlenews_wsj I'm yet to find out a reason why anyone should give a shit about this. The funds closing are just intermediaries for people who don't want to take risk
Those FCX 29.5 puts I was short are toast now, will go off the board at 0. I'm interested to see if IB charges me anything. FU to the market makers who were asking $0.05 for those things last week. So ends a multi-month, highly profitable chapter being short FCX (being long puts). What a pleasure it's been to take a wildly popular, cheap (if you listen to its fans) stock and profitably sell the hell out of it on two occasions. Best of luck to the FCX fans, and some advice to them: get the hell out of your parents' basement, change your filthy boxer shorts, take a shower, and get out and see the world. BTW, is anyone else here using twitter? I use it religiously now. This conversation would be a lot more fun and a lot better there.
Any options guys, I have a question. Bought a few Sept 45 calls on SSO at $0.43 before the close on Friday before I knew the slightest bit about the mechanics other than that SSO is a double-leveraged S&P etf. This morning, I get around to checking the chart of the Sept 45 calls. I notice that around the start of July, these calls were trading for less than $2 even though the underlying was trading around $55. What gives?
I don't spend much time research technology but I found this article very interesting http://brontecapital.blogspot.com/2011/08/software-eats-part-of-world.html
BAC headed for liquidation. Rumor is Bernanke will say no to QE3 at JH and instead move right to QE's 4 and 5. Not as much of a joke as it seems. When central planners are confronted with clear evidence of their failings, their response is never acceptance or accountability, it is always to say not enough was done and double down.
I coulda shoulda woulda shorted BAC on that break of 6.75 earlier ... can't bring myself to pull the trigger now
Analysts tend to predict future federal funds rate incorrectly http://libertystreeteconomics.newyo...at-the-accuracy-of-policy-expectations-1.html Too hawkish in easing cycles and too dovish in hiking cycles. Whether they get this wrong because they tend to look at the fed futures and get their opinions from there or whether the fed futures get affected by their opinions is more of a complex issue