Had to chill for a while but I’m welcomed back
Was low key, now I’m underneath the welcome mat – Busta Rhymes
No trades for me again so far today. I’m fine with that. If you’re new and looking to build up some exposure to our stock picks, just start small with some of our recent buys (or shorts/puts) and know that there will be plenty of time over coming weeks and months for more trading and scaling. Patience is a virtue – it’s verified and very veracious.
I worked all weekend on helping some of my subscribers and friends and family do what I’m calling a “Money crash your portfolio” deep dive. The one theme so far that is sticking out to me more than anything else is that despite the stock markets being at all-time highs and real estate prices absolutely popping in many areas around the country and all the good things you can point to…most people are still scared and just want some reliable interest and income from their portfolios. Much more on this and what it all means as I dive deeper in coming weeks and months on this.
I’m already terribly backlogged on the demand for these Deep Dives so bear with me if you’re looking for one from me too. Here’s the page for more info on this.
In the meantime, let’s run through a few anti-propaganda headlines to counter what you’re reading and hearing from every angle right now.
The Nobelist and the ‘SPY’ (and other index funds) – Did you know that there’s NO SUCH THING AS AN NOBEL PRIZE FOR ECONOMICS? It’s a scam, like most things economists do and say. Read THE NOBEL PRIZE IN ECONOMICS? THERE IS NO NOBEL PRIZE IN ECONOMICS for a reality check.
Lew’s Vow Not to Shift on Debt Limit Frustrates Republicans – Yawn. I’m bored with the fake debt ceiling and pretend negotiations about avoiding it. $BAC, $GS, $C, $JPM and the rest of the banks get more implicit and explicit welfare every day than the entirety of the amount these Republican/Democrats are discussing in their so-called negotiations. Facts are facts.
Jim Cramer: The President’s Cavalier Bet – I’m still on the idea that the markets seem to be uber-confident about another big rally into year end commencing upon “debt ceiling solution.” Sell-the-news set-up, IMHO. No trades for me today either. Cash $$ heavy and more heavily hedged with puts than I’ve been in a while. Will add to the puts if the market spikes short-term. $SPY$EURUSD $DJIA
Simple rule – Don’t ever buy a penny stock – With the markets bubbling like they are, I’ve lately seen an increase in interest and spikes in penny stocks. This is an oldie, but goodie that I sometimes need to remind readers of. “And the night of the concert, I got to hang with Billy Gibbons backstage and jam on his Les Paul after ward on the ZZ Top tour bus. Billy talked a lot about how great the Inn of the Mountain Gods in my home town of Ruidoso is and his wife who was also very cool, mainly grilled me about stocks, including several penny stocks that she owned. I told her to sell them all immediately…”
3 Stocks That Can Spike Due To Massive Short Interest – As a smart trader put it this morning in his Scuttlefeed this morning – “The $TSLA chart looks a tad anemic. Not sure I have the guts to go short but I sold out of my long position (opened at 32) this AM.” I replied to him that I bought some $TSLA puts a couple weeks ago, as noted repeatedly here on Marketwatch at the time…and am still holding them. That chart is indeed looking for an alibi (as in U-G-L-Y)
Microsoft reportedly eyeing Mark Hurd for its CEO job – Hurd remains extremely well-respected as a CEO and leader amongst the tech and Wall Street crowds. If they hire him, I expect the stock would respond positively. Still holding my MSFT calls.
Patience when others are greedy and scared. So I’m being patient for now, confident that I won’t catch the perfect top or bottom and that I don’t need to. Neither do you.