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IMF head arrested on rape charges in NYC. Israel fires across the Syrian border. The Middle East revolutions continue driving death and despair. Lowe’s offers disappointing guidance and is down pre-market. And there’s a smattering of smaller M&A deals announced today too. The futures here are down and with the rest of the world trading in a funk.
Our mission today is to not let any of that distract us or take our eye off the prize, which is huge wealth resulting from our patient, diligent, disciplined execution of our well-researched and homeworked and thought-out tactics from our big picture strategy.
From a sheer gossip standpoint, as conspiratorial fodder and as a human interest story, the news of the arrest on charges of rape of the International Monetary Fund leader has had me riveted since I first read about it in the NY Post app on my iPad 2 late Saturday night. But it truly is irrelevant to our trading. The IMF and its bankster-friendly/social-austerity remedies of bailouts for the banks while cutting services for the poor is horrible anyway, and the fact that they’ve lost one of the most powerful drivers and enablers of such policies is, if anything, a positive for our society and economy over the long term. Am I the only one upon whom it is not lost that the now-jailed head of the IMF is one of the leaders of the France Socialist Party. Do you think the term Socialist is meaningless in the context of political party or economic policy? Do you think socialism drives prosperity and fair distribution? I don’t. It sure doesn’t drive bull markets either. France’s markets are down nearly 2% partly because of this arrest news…but we’re not in France or trading French ETFs, are we? Let’s not distract ourselves any further with this IMF noise.
And on that note, I’m looking to add to some of our existing positions on both the short and long sides using both common and options throughout this week. Let you know as I do it. I’ll be back with a rundown of all our positions next.
Stay focused on what matters today!
