Wednesday, July 14, 2010

BCS: My Kind of Company


Bernanke threw some more cold water at my portfolio, so how's his batting average? It depends on what you were investing in, doesn't it? If you were in Treasuries, then his batting average has been superb. For me, I'd like to tell him: Shut the Failure Up.

My hopes are pinned on BCS, which has reportedly been poaching (ahem... enticing with higher pay, better benefits, perhaps some more stock options?) executives from other banks left and right. That's my kind of company! Since Lehman left an unfathomable void in the US market and bonds have been the place to be throughout the Global Financial Crisis, I'm thinking BCS might have been a VGI (Very Good Investment) for me. I'm paying attention to the levels though. Right now, I closed the day at +9.19% overall on BCS. MF would have been a better and quicker play, but I'm satisfied that I made the jump from MS to BCS - at least for the time being. Bid sizes continue to be much greater than ask sizes on BCS, so I'm not ready to start checking out other stocks just yet. My head says no sex before marriage, but my charts say no marriage before sex.


Today:

-1.44% on the SBA
-0.83% on the Roth IRA


In just two days, we're getting earnings results from CitiFrog, Our Glowing Prince.

I read an interesting article from Elliott Wave International today regarding the Quadrillion Dollar Meltdown that they're predicting. I don't think the GOL are ones to shy away from fiscal responsibility and the Japanese will not allow such disorderly deleveraging to occur. Aren't the Japanese prone to intervention or is that more a Swiss thing? The Swiss mean business - at least the SNB does! And the GOL... they are definitely honourable, upright gentlemen.

But suggesting Treasury bonds as the safest investment? I don't buy it. I reckon the US would be the first nation to find a loophole to QU forgive Treasury debt. We'd brand it and patent it too.

If it does happen, which do you reckon would be the best currency pair to short? Gosh... just thinking about that sets my charts on fire!


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