Trading Desk Survivor

Hey, that whole new job thing I'm doing right now, the precious metals and all that. . .

Well, I survived Round 1 of the carnage, but might not make Round 2 of Trading Desk Survivor, so before I get canned, let me make the bull case for gold, before I get so angry at my firm, I can't make a rational call on it.

I think it may be the single greatest trading opportunity since Google in 05.

Great Britain and Ireland are near collapse, Citi and B of A are effectively nationalized as the bailout money given them has exceeded their market caps.

And there is a broadening disconnect between the futures/ETFs and the demand for the hard asset, as people do not want the paper. I am seeing this firsthand.

Keep in mind, Gold Spot is now over $900 on a day when the dollar STRENGTHENED, which is very bullish, as dollar weakness (soon to come) usually means gold strength and vice versa, so when gold moves up on a strong dollar day, the market is telling you something.

See, the ETF, GLD, is run by Street-Tracks which as far as I know is fine, but the major silver ETF is run by Barclays, which like Great Britain and the GB Pound is on the verge of collapse.

The global financial system is beyond repair without major dollar devaluation, that's okay, we need to reconstruct a better system anywho, something resembling the barter system would be cool.

. . .and we just had a massive earthquake here, which is awesome. Either that or a terrorist attack on my building, which will be par for the course in 09.

Basically, we are in deep, the only place to be is in gold.

Happy trades!

Also, my buddy Matty (pictured above) is a very cool dude. I knew him for months before I knew he was on TV. He's got a book coming out soon. You'll hear about it here.

And yes, I love you, Barack Hussein, you have some major problems on your economic team but that is a post for another time.

For now, yes we can!

Yes We Can

More of This, Please. or Walk The Aisle.

Before we get into "The Moment", of which I am very excited, let's first meditate on this guy.

On the way to work last week, my eyes teared up, mostly because I was going to work.

No, my eyes teared up as the NPR guy told how Chelsey B. "Sully" Sullenberger walked the aisle TWICE of the downed US Air Jet which he somehow landed on the Hudson River.

Walking the aisle making sure no one was left behind.

You see, he was the pilot of that plane, and he took responsibility for all his passengers.

He put their lives before his.

I doubt he makes more than 200k a year.

The contrast between this guy and any one of the bank CEOs is too grotesque a picture to contemplate for more than a few seconds, so we'll end it right here.

Fuck them, they are dinosaurs. This guy is the new, new thing.

Accountability, honor, valor, humility.

Walk the aisle.

Bailouts Going All Night Looooong!

Bank of America at the trough for seconds.

"Help, I swallowed Merrill Lynch, and I can't get up!"

You slothful, bloated, lethargic bastard.

Why, oh why do you exist?

Three worst trades in history:

3) Ken Lewis, CEO of Bank of America buys Countrywide (2007).

2) Ken Lewis, CEO of Bank of America buys Merrill Lynch (2008).

1) The US taxpayer buys Bank of America (tonight).

All night long, all night, all night, all night loooong!!

Drunken Sailors, An Insult To Drunken Sailors

Now that the TARP ibank bonus pool bonanza is being revealed in all it's glory. . . Congressional leaders are wailing about how awful it is.

Wailing, after ramming it through both houses like 2 months ago.

This is almost as awesome as wailing about how awful war is, a year after authorizing the war in Iraq by like 99 votes to 1 Kucinich.

Amazing.

D) It is written.

$70 Tomato

Happy New Year White People!!

Wow, we made it.

Okay, my posts in 2008 were, well, let's face it, my posts have been kind of depressing of late, what with GD II and all.

I hope that you were not made too sad, and that I kept you out of the stock market, or at least made you cry once if you are a banker.

But, this year, new beginnings!

No more sad stuff, just positive.

I for one am looking forward to hyper-inflation. It will be cool to buy a $70 tomato.

Also, I am now in the precious metals business after a 17 month rest period. Please know that this happened very quickly (like 2 weeks).

So, when I posted the Zimbabwe Currency in response to our light-speed-money-printing-bailout-bonanza, I had just begun the job search and had no positions in gold.

Then an opportunity arose that just about exactly reflected my take on the world, and I was swept up in it. Pure luck. Or I should say pure chance, because we never know what is good or bad luck until well after the fact.

If you know the Zen Koan, good for you.

So, just wanted to make that clear: the dog was wagging the tail here, and not vice versa, and you will always be made aware of my positions, and where my biases and financial incentives are at, in the moment, real time.

So, basically, now I have a very long position in Gold, Silver and Platinum.

Finally, I was wrong in my stock market 6k by Christmas call.

Sorry.

Not really.