After 3 heavy days on the whiskey at the Kentucky Derby and loosing my shirt which thank fully I borrowed from a true friend the day before, I took the bus to downtown Louisville, Kentucky to watch the Hatton fight, and yes you know the rest. Full as a boot on a rainy day I heard a mate call his bookie with the words, give me 2grand on Hatton to win by knockout. I couldn't believe the words that followed from my mouth, can I have 500 of that.
10seconds into round 1 you could hear me yelling out, stop the fight stop the fight someone is going to get killed, yes Ricky the poorly named Hitman Hatton got hit and like GM looked dead.
Leaving the bar I sounded a bit like Pacman in this clip
http://www.youtube.com/watch?v=cIl8Q_br8bI&NR=1
Nothing but mumbled words strung together in an audible fashion.
Well the markets are like Hitman right now, having shorted OIL at 50 bucks I am nearly out for the count like Ricky but alas we still have cash in the coffers from our earlier plays and today after some sessions to the gym and a step away from the game I have come back to see some amazing opportunities.
GM executives sold shares today, one sold 100,000 shares to collect just over 100K now that is a sign of the captain of the ship yelling out, every man for himself as the captain grabs the last life jacket and jumps. I see banks raising capital and some say that's a good sign, well its a sign of an industry that wants YOU to prop them up, you only sell for 3 reasons, 1 is you think your price will get lower in the future, the other is you need money to survive and the final one is opportunistic, to raise cash to buy other institutions, which when you think about it means you believe other banks will go lower so you want to raise cash now to pounce later. Either way all 3 say short banks for now.
I loaded up on FAZ last night triple short banks and like Ricky Hatton they wont come back to haunt us for awhile.
Giddy Up
No comments:
Post a Comment