A friend who works in the industry had spoken positively about Trubion Pharmaceuticals a few months back, and I added it to my watch list, figuring it I might buy after a significant market correction. After the close today, the company announced it was getting bought out by Emergent BioSolutions. It was up ~50% after [...]
On 07.25.10, In Investing, Long positions, Musings memories and observations, Pairs trades, Secular Market Trends, Short positions, Speculations, by David Pinsen
In a post Thursday (“Road to Nowhere”), Tim Knight wrote,
With the exception of commissions-based brokers, it’s hard to believe there’s anyone out there who has really enjoyed the stock market over the past few months. I mean, just look at the ES [S&P e-mini futures] below.
Tim Knight still thinks the S&P’s going to decline to [...]
On 07.22.10, In Culture, Economics, Investing, Long positions, Musings memories and observations, Politics, Speculations, U.S. economy, by David Pinsen
– The Financial Times has been running a debate all week on whether the U.S. and E.U. ought to implement more fiscal stimulus or start reining in their fiscal deficits and reducing their debts: http://www.ft.com/austeritydebate (registration required). A couple of thoughts on this, from a layman’s perspective follow. First, it seems that if you [...]
One of a few recent articles about whether gold is a bubble appeared in the Wall Street Journal last week, “Is gold the latest bubble?”. From the WSJ article,
Second, before we assume the gold bubble has hit its peak, let’s see how it compares with the last two bubbles — the tech mania of the [...]
Back on May 10th I noted the divergence between the physical gold trust PHYS and the gold ETF GLD and observed that there might be potential for a pairs trade in that divergence.
Also on May 10th (I learned today), the anonymous proprietor of the new blog ETF Base made a similar observation — and [...]
On 05.19.10, In Business and Entrepreneurship, Investing, Short Selling, Short positions, Speculations, by David Pinsen
From Short Screen earlier today:
- Re-shorted HGSI at $24.34 today. Same rationale as last time, pretty much. Using a trailing stop in case these folks cure the common cold while I’m short.
- For some IRA short exposure, picked up shares of inverse ETFs EDZ at $53.65 and FXP at $45.01. Using trailing stops.
- [...]
Which makes puts on GLD cheap. The cost of buying protection against a greater than 20% drop in the price of GLD over the next six months using the optimal put option contracts is about 1.1% of the position value. That’s about how cheap SPY puts were back when everything was sunny.
Will the bull market [...]
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