Monday, December 5, 2011

We Don't Speak German, But We Can If You Like...


The global markets were all 'we don't speak German, but we can if you like - and we might even try some French, starting with comment allez vous' after France and Germany reached a 'comprehensive agreement' on deeper fiscal union rules in the Euro rescue game. The most notable part underlines a commitment not to force private sector bondholders to take haircuts on any future Eurozone bailouts. Highlight the words future and Eurozone bailouts, meaning there is a commitment to rolling out more Eurozone bailouts, S&P. Separately, Super Mario Monti has already been warning the markets about aggressive ECB action day and night.

S&P stepped along just before the trading day ended, threatening to downgrade the outlook for 15 eurozone nations to negative, but it seems it's largely being shrugged off as European bank ADRs - including LYG and SCGLY - are still making a heavy uphill tread in Extended Hours Trading.

We've got to wait for the Japanese Housewives for confirmation, but although I was hoping for a severe retracement myself last week, I haven't been able to buy successfully yet. Three more days and we'll know. Failing the retracement, I'm going to look for an uptrend continuation pattern to buy over the course of the next several days.

The European leaders at all government levels have stepped up across the board ever since Thanksgiving. This is what we need to put the bears on the proverbial grill and the sacrificial lamb in the form of MF Global has already occurred!

Speaking of sacrifices, I'm officially done with my 3-day fast for 9FM! It was a trying time for me. In the midst of my 24-hour test-drive, I decided the only thing worse than doing a secret 3-day fast that 9FM isn't even going to know about is effectively doing a 4-day one because I'm actually bimbo enough to do a 24-hour test-drive. So I took it up a notch and went the full 72 hours on a water-only fast. Oh, but I roasted the duck and had the discipline not to even take one small bite on Friday, stashing it in the fridge after the cool-off period. I broke my fast last night after spending nearly the full day making a Santa Fe Chicken Soup with a sun-dried tomato and chicken broth base. It was as yummy as 9FM.

Tomorrow, I'm going to try a buy-on-a-dip with LYG and I'm going to continue to monitor my existing positions in BAC, HWD, JRCC, MFG, NMR, SLT, TGB, and WNR. JRCC and SLT seem to have a thing going for one another as their pricing has been moving very closely together. I'm going to consider it one position for now and it'll make me feel a little better about having sold JRCC $1 per share too early so far. Once the Maharajas start putting in their signature karma suture moves, my portfolio will start getting as sultry as Bernanke, who's been avoiding the spotlight lately.

I wish I was a little more like my idols, the GOLs. Are they psychic? They're almost always right on the money!


+0.78% SBA
+1.97% Roth IRA

+0.65% DJIA
+1.10% Nasdaq
+1.03% S&P

+0.28% FTSE
+0.80% Eurofirst

+0.60% Nikkei
-1.16% Shanghai (interesting... looks like China's got the Bwahaha)
-0.25% SENSEX

-0.41% WTI Crude
-0.54% Brent Crude

-1.37% Gold
-0.80% Copper
-0.81% Corn

+1.16% VIX




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