Don’t know when he'll will be back again, but until he is, I, Todd Tabacco, will be holding down the fort. While I may not possess the same writing acumen as big bro, I’ll at least give you the hot shorts for the day and a little commentary...
Slick Willy Resurrected
Back in the early 90’s, the last democratic President of the United States, Bill Clinton, took on the name Slick Willy, mostly for his smooth talking ways. It seems that we have a new Mr. Slick in our newest democratic President, Barrack Hussein Obama. Slick Olley, Slick Obay, Slick BO…. I guess nothing really flows, so we’ll stick with Mr. Slick. That’s what he was last night, as he tried to make it seem like he had some sort of handle on the deteriorating situation in the Gulf. He used all the buzz words, “Recklessness”, “compensate”, “innovation”, “destiny”…but in reality all he was saying was,
“PLLEEEAAASEEE don’t blame this on meeeeeeee!!! There’s no way I could have stopped this from happening and now that I realize it’s an issue that people think I should deal with, I will pass the buck and blame all the right people in the most eloquent way I can.”
While Mr. Slick may have helped repair his image in the eyes of some everyday Americans, there’s nothing he can do help these markets today. After late news that BP’s daily losses are double what initially expected, and a bigger than expected pop in the markets yesterday, there will def be a correction downward today, even in the face of this week’s option expirations.
Pirate Gary & The Hidden Afghanistan Gold
There were 2 big finds in the mountains of Pakistan and Afghanistan recently. First we find out that the Aghani people are sitting on trillions of dollars of raw mineral deposits, the most valuable of them being gold. And, as Austins Power’s Goldmember would say, “Everyone loves Gooooold…”
For a country with an estimated GDP of $12 Billion, based primarily on growing opium and narcotics trafficking, this is the best news they’ve had in 50 years. Maybe they can regain the opulence they shared when they were referred to as “The Paris of Central Asia” between 1930 and 1970. Probably not, they don’t have the resources of infrastructure to properly mine for the available reserves and will need help from bigger governments (US and China), and eventually be raped and ravaged of any significant gains.
That’s being said, I guess one man wanted to get there before anyone else had the chance to ravage the Aghani homeland. Gary Faulkner, referred to in the NY Post as,
“the Zealous Pirate,” was captured in the mountains of Pakistan near the boarder of Afghanistan. Gary claimed he was on a mission to find and kill Osama Bin laden, his seventh attempt since 2002 apparently. I’m not too sure about his story though…He tried seven times and only got caught this time. C’mon Gary, Sounds like the zealous pirate was searching for that hidden Afghani goooooooold!Bye Bye BBY
BBY was a favorite of short sellers yesterday, shorting it in advance of their Earnings miss. BBY isn’t on its own though. It should serve as an indication of the business being done for all high priced tech and big box retailers. With unemployment hovering around 10% and wages staying stagnant, people don’t have the income to buy TV’s, Computers and Stereo Surround sound systems. They have enough trouble paying their electricity bills to power, and all the credit cards bills to pay for, the 5 flats screens, 2 iMac’s, and 4 Ipods they bought in the past 3 years….I have a conference call I have to get on, so I’ll have to cut it short. With that, here are today’s Hot Shorts. Yesterday's hot shorts returned you 2.2% open to close, so don't miss today's:
FSC UMC ISF LPL AIG
Have a Super Trading Day
TT
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1 comment:
Good job filling in buddy!
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