I was mildly surprised to note that the grains didn’t move up as much as I expected today. Only corn has kept that lock step upward march. I wonder how long the move in corn is going to keep going, and I also wonder when we’ll see a limit move to flush out the weak longs. Sugar has delivered.
I put on an options play in the S&P, and will hopefully make money whichever way the market goes.
Meanwhile, I plan on going for a swim, stopping by Pelican Alley for a drink, and working on my book. John has been playing on the beach all day, and has told me that he want’s to stay here for the summer and blow off Mexico. He wants me to finance a trip in August to Athens for 10 days, so he can see the ruins. I’m inclined to let him go, as inertia has taken over me, and I don’t know when I’ll ever get to Mexico. I’ve found a comfort level staying here, a sense of familiarity. I trade, write, surf, and swim, read and fish. I also feel that leaving here for an extended period of time would be disrespectful to Denise…..as irrational as that sounds, it makes perfect sense to me.
I’ve been reading Derren Brown’s “Tricks of the Mind,” and recommend it to anyone. There are many market lessons contained in that book.
Finally, I bought this Miro Gouache at the top of the post for John from a gallery that I do business with. It should be delivered in a couple of days. They virtually gave it to me, but I strongly suspect that the bottom has dropped out of the Miro Market. That same gallery has an Impressionist painting they know I like, that they want to sell me at full retail. Still, I took full advantage of the Miro teaser.
Jeff
Hi Jeff,
MIRO
I like it. (But don’t tell anyone)
S&P
Great, my worst scenario. Stocks go down and commodities keep going up. 300 points, huh?
CORN
What about the weak shorts?
ATHENS
Go with him. But not in August - bloody hot.
MEXICO
Just drink Corona and say you went.
PELICAN ALLEY
So you going to invite me or what?
COMFORT LEVEL
Stick with it - sounds like its coming from a good place.
TRICKS OF THE MIND
I find myself getting more forgetful. It’s a matter of time before the kids catch on and double or triple their allowance income.
IMPRESSIONIST PAINTING AT THE GALLERY
Wait till the S&P actually hits the 300 lower mark, then buy the gallery.
Cheers,
George
Comment by allocator — June 19, 2008 @ 2:11 am
George, as usual you provide irreverent, sage advice.
As for the corn shorts, except for the hedgers, all the shorts in corn are weak.
Tricks of the mind….get that book.
when the S&P makes a move like that, I won’t just buy the ngallery, I’ll buy the whole city block
Athens: I’d rather send him to Athens while I play in Nice.
Corona…..I hate corona. By the way, corona is considered to be shit beer for the average Mexican who think gringo’s are crazy for drinking the stuff. Negro y Modelo and Dos Eqis is so much better….it’s that German influence that made Mexico’s beer so great.
Jeff
Comment by masteroftheuniverse — June 19, 2008 @ 2:18 am
A new series of Derren Brown’s ‘Trick or Treat’ has just shown over here in the UK. While I didn’t find it quite as entertaining as his earlier shows, it was very insightful indeed, with a series of lessons directly applicable to life and the markets. He appears to have a complete understanding and mastery over how the mind works.
Also, on the artistic side, he is very good at cartoon portraits (more reading of the face)…you can see his web-site for the gallery.
http://www.derrenbrown.co.uk/pictures/gallery/artwork
Comment by Caravaggio — June 19, 2008 @ 9:59 am
Caravaggio,
I really like Brown’s mind. There’s many market lessons he has in his book.
Jeff
Comment by masteroftheuniverse — June 20, 2008 @ 12:39 pm