Search This Blog

Thursday, June 16, 2011

Market Thought... the clusterfuck

I was originally going to write an angry post about the defeatists in this world. The kind of people who see no positives, but only the negatives.  Who's forecasts give little hope for me and future generations to live in a relatively stable innovative world.  The post was originally going to be riddled with fuck them, fuck this and, of course, fuck that.  But after the past couple of days I have been having, on a personal level, I am just too tired to be angry.

Now, with the clusterfuck that is Greece, the market came in today. With in the 'bounce' post, I highlighted that the current area of the market was going to be tough, but the 'toughness' was exacerbated thanks to Greece.

My market thesis for the summer is predicated on my 'summer of discontent' post. So far, the thesis is holding up.  And true to form, we are near 1250, and I have closed out any protections/shorts and increased long positions.

What is also interesting today, is that the VIX spiked about 16%. The severity of the spike, and the level of SP500 support, suggests a bottom.

Of course this assumes a systemic issue does not take place. (Like a hard restructuring of Greek debt or the US debt ceiling not being raised.)

The schmucks in Washington better get their shit together, and show reasonable progress to increase revenue and cut spending.

As for Greece, you always have a place in my heart, as you are the land that fed my parents. But for fuck sake, you have been living in a corrupt 'fakelo' bullshit society for far too long.  Unfortunately it is only through this crisis will any proper structural changes take place to allow that 3rd world country to reach its true potential.  (Anyone that has led that country, and has not pushed for more efficient structural reforms should be barred from politics. As those leaders allowed their steaming pile of shit to get higher and higher over the last 20 years.)

No comments:

Post a Comment