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Another dull day. Up 478. VIX curve went up, but not enough to hurt much. The other stuff did well enough to cover.

1. Why the timing? 2. Its low in the last 20 days is 27.95, in regular hours at least. You have to go back aways before that to get a price that low. What was the date on that trade? Was it regular hours?

The other side of the trade! Groovy. Long GDX as of Friday afternoon at a basis of 23.9096, and plan to hold for probably a year at least, but of course that will depend. I'll have to post here when I exit, just for the fun of it.

Everyone thinks QE lowers bond rates, but the evidence is pretty obviously the opposite: every episode of QE has seen rising rates, and every time they pull back, rates have fallen. Anyway, I'm bullish gold now, along with every other commodity. Gold less so, as it is probably still digesting...

Just watched mostly. Initiated a small position in GDX because I'm becoming more convinced with each passing day that commodities are going to go BOOM this year. Have others in this area as well. Results today were again dented by the front of the curve collapsing as much as it did. Interesting...

Shoulda made more, but the hedges did hold me up a bit. Speaking of which, bought some SDS for tomorrow's NFP, just in case...

Almost didn't on the off chance it might cause some poor ETer to defenestrate, but then figured, nah, they can take it. Another day, another 1k down. Sweat it not, it's not nearly as awful as it looks. XIV and ZIV, the two ETFs that approximate what I do, are down much much more percent wise...

Actually, I'm quite old. Let me put it this way: I don't recall, ever, hearing anyone say "I got this xxxxx at a great price at JC Penney." Has never happened. I do recall lots and lots of articles in investment mags and papers about how this new strategy at JC Penney will propel them higher...

JCP's always been a dog. Been hearing about how their turnaround is just around the corner seems like my whole life. P&F attached. 3.71 PO. Like someone said above, only good strategy on this is "Whack-a-mole": if its head pops up, buy puts. Someone will hit it again.

Good advice. Thx. Looking at that GREK ETF. Might buy some.

US is going through one of its periodic import replacement cycles, in this case energy. Partially as a result of our now cheaper energy, some manufacturing is also coming back to the US. Part of what's hurting the EM's is that the US current account deficit is falling, meaning we have to import...

Broken record time. Front of the VIX curve went down, back went up, worst config there is for me. If I hadn't trimmed off some hedges at EOD yesterday, would have been worse. OTOH, weird commodity bounce helped out quite a bit. Been waiting for that, but if the world's going to end, why are the...

Posting for the record: Jan EOM P/L was -3024.52. Not a bad performance given the awfulness of the month. I try to stay close to a flat performance in bad months, and this is actually pretty close.

Satisfied w/performance. Hedges kicked in nicely. VAR had been reduced already before today, reduced more this morning when I saw things start heading south again. Trimmed my hedges towards EOD.

@Pawelmorski, @polemitis - for breaking news in the EU and the financial world generally. @FinancialTimes (have a subscription), @BloombergNews, @Econoday - regular financial news sources. @THE_47th - Middle East @Brown_Moses - Middle East, UK, armaments expert. @costareports - political...

I'd like to say that file accurately reflects my day, but it was actually the worst day this year. Add 3k to what you see, and you get what happened to me; the convertible I wrote about the other day came in today. Thought it would be in a month, but I guess I misread the date. I got...

P&L reflects a convertible preferred from M&T Bank that got converted today; actual proceeds won't hit for a month. Will have to note when they do, as that will increase P&L on that day. Net of that, was actually up around 1k today. Was a lot more before GOOG & AMZN reported and futures and...

Long term supportive, if this keeps up: Global gold hedging falls to 11-year low

1. The EM's are about, in order: a) South Africa: China's slowdown b) Turkey: Erdogan's an idiot and a fool c) Russia: For Putin, see Erdogan, above. d) Argentina: For Fernandez, see Putin above. Heck for the whole Argentinian political elite, do the same. When is this country not in...

So the mkt did a big turnaround after the big turnaround on Turkey. Didn't ditch my SDS, so not a bad day at all, all things considered. I'll definitely live to screw up another day. *Edit to add: switched to SSO tonight in the AH. Think tomorrow s/b OK, as both GOOG and FB are having good...