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Bulls Keep 13K Hats For Now


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Pretty obvious double bottom rampathon near the close,I knew it was coming so I went out.... dry.gif

 

The bots came hard and fast in the blink of an eye.

 

 

I sold my SPY puts right on that double bottom, as well as some TZA, both for handsome gain...but I kept some other puts on QQQ and AAPL and others for the semi-climactic bedshatting gashbust in the morning after Asia and You Rope set the pace.

 

We aren't done yet on the bear side, not even on short term stuff. The short term stuff still needs a nasty climactic sell-off to freak everyone out and create bargains, not a little dribble down drip to a double bottom like today.

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TJ and other boondogglers - What is this Goldman security with 30% yield. I am sure there is no GS bond that is yielding 30% at a price of about $93. I am curious...

 

GS Security 30% yield ????

Looks to be some sort of toxic garbage filled dumpster note

 

http://www.docstoc.com/docs/81194578/Prospectus-GOLDMAN-SACHS-GROUP-INC---6-7-2011

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Looks to be some sort of toxic garbage filled dumpster note

 

http://www.docstoc.com/docs/81194578/Prospectus-GOLDMAN-SACHS-GROUP-INC---6-7-2011

 

Thanks TJ, that is very helpful.

 

Upon reading the link I remember seeing such notes back in 2009, which essentially looked like, heads GS wins, tails GS wins even more. I could not fathom why anyone would want to invest in such a deal, unless there is some tax benefits that goes along with such structured notes.

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