Market Day
Today ended up being a pretty decent day in the market. The S&P posted a good gain, and my long made some money. Sugar was ho-hum, but I still didn’t blow out of it.
I’m going over to Pelican Alley for some grub in a few minutes, and taking John and a girl he managed to scrounge up for a date. I don’t know how he does it.
Later on, I’m thinking of going down to the jetty and doing some fishing. I miss my redneck fishing friends. The jetty has a fish camp that has the cheapest beer anywhere. Cans of bear are a buck, all the time, and I suppose I’ll have a few beers.
I noticed the ICE was down for a substantial portion of the trading day. That’s the problem with electronic exchanges…a computer or power glitch, and there’s no trading. The same wouldn’t happen at an open outcry exchange….only a presidental order would stop trading. I remember power failures, and everyone went to the chalkboards and used cellphones to get quotes from the other exchanges. Trading didn’t miss a beat.
I wrote a piece over on Daily Speculations that you might want to check out.
Jeff
I read that on an empty stomach. Thanks.
So NOW you tell me about Slim’s, after we went all the way to Florida and back at March break.
Talking about ways with women, my 19 year old son Ben went to Cuba last week for a holiday and ended up at a resort where six also-vacationing co-eds basically adopted him for the week. That shit never happened to me.
Cheers,
George
Comment by allocator — May 16, 2008 @ 1:58 am
By the way, did you ever finish thinking through the (short) bond trade you talked about a few weeks ago? I’ve been thinking about buying the new ProShares 2x short bond ETF (TBT) I think its in the right basic ballpark - more rate cuts and the bonds lose value to the dollar and inflation, inflation-fighting and the bonds go down anyway because of rising interest rates. It seems too obvious - what could go wrong?
Cheers,
George
Comment by allocator — May 16, 2008 @ 2:11 am
George,
I never got off that short. I think there will be opportunities to short the bonds in the near future, but I’m hesitant right here.
That’s cool that your son got to go to Cuba. My dad used to take us there, (he liked to party), before Castro, when I was under five years old. Except for pictures, I have no memories of the place.
Someday, I’ll go back….but now I just have to settle for the good Cuban food that I eat a couple of times a month. I also listen to a lot of salsa music, some of it directly from Havana, which we get on the radio here. As the crow flies, we’re not that far.
Jeff
Comment by masteroftheuniverse — May 17, 2008 @ 1:07 am