I want to be a Stop & Reverse Momentum Player. I'd probably be really into GBP/USD and GBP/JPY. Since I'm in one of my moods, I am not going to do a forex trade today. My GBP/USD trade of yesterday failed to restore my faith in my trading.
Right now, I suppose I'm content with an occasional day where my portfolio advances by +1.68%. Now, this is uncanny. Why does my portfolio always seem to be moving in percentages involving an 8? This is a lucky number according to most Chinese. But it's real. My portfolio does end up moving in those percentages, which is what makes it uncanny.
Anyway, it turned out AMD was the second runner-up turned frog turned prince today. It was +10.57% based on news that it is aiming to retire $1 billion in Senior Notes. Good on you, AMD! Perhaps ABK can take a hint... AMD has been reporting loss after loss, quarter after quarter and even a company like this can have the honour to repay its debt. ABK, on the other hand, reports a $2.2 billion profit one week and issues a going-concern statement the next. Maybe it should change its trading symbol to WTF, which would certainly be more apt. I wouldn't be surprised if AMD closes the year with a try for $10. Would I be able to stick with AMD for the long term considering I'm really into PDO at the moment?
I've been doing some more research and found an interesting strategy that hedge funds use to trade junk bonds.
I'm not sure how applicable this strategy is with ABK bonds, but I seem to recall ABK issuing the going-concern statement prior to indicating its failure to file statutory financial statements. So is that a preemptive strike, ABK? At the least have the decency to offer us a tender for these prince turned frog junk bonds of yours!
No comments:
Post a Comment