Probe of Lehman collapse escalated: report

This collapse was easy to see and I have written on if extensively in other forums.

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On to other things…I want to tell you about my pal, Ida. Ida is a golfer. She took up golf in her forties. Ida has 11 hole in ones. Quite a large number for a golfer. She is 97. I can hear her now saying….”I’m gonna get one more.”

The other night I finally asked her. How do you do it? How do you get so many?

She says, “oh, you just hit it down the middle, say a few hail marries, and it goes in the hole.”

That rang familiar with what I wrote here. Dream it, see it, do it, repeat.

While I am away, take some time to read one of my all time favorites. Bobby Evans definitely has a place in the volatilist hall of fame. He was optioning movie scripts that didn’t even exist while head of Paramount. He created a derivative market in the movie industry. What an unbelievable story. It also translates well to film. I am looking forward to having lunch with Bobby.

Peace

Bobby Evans

The Oil trade I mentioned the other day has stopped out.

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In my previous post, I discussed being bullish on oil. Looking at the weekly chart, I’d use the recent low as a stop.

As stated repeatedly, the bearish line on US equities continues. The powers that be are orchestrating quite a little short squeeze. This short squeeze could continue, but it will ultimately fail and we’ll go lower. I seriously doubt that the squeeze will last beyond Friday. I will not be concerned that any long term bottom has been put in until we see volatility expansion. Risk remains high and downside insurance remains cheap.

What am I bullish on? I am bullish on oil here and now.