"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Friday, August 21, 2009

The life of a short

Or should I say the short lifespan of a bear in this market? Regardless, to our our China FXP gain of 20% we now add a loss of 12% booked on the financials SKF short as good risk management demands I abort. No emotion - doze dirty rotten bullzzz!!! - just move forward. Oh and while we're at it, let's say goodbye to the ZSL silver short as well for a -6%. It was not mentioned here, but there it goes anyway. Long da minahs now with no interference.

We are left to wonder what kind of games are going on at op/ex but we realize that risk management does not care about games. Speaking of op/ex though, what I thought was a stink bid on some VIX calls have just filled. This will be a low risk way of getting bearish into December as they can go to zero and not really affect anything.