I am going to take some profits on…
Monday morning mergers to kick off the week and the mainstream media will focus on them as today’s catalyst. I’m not sure you can point a 0.21% intramorning rally in 500 of the largest companies in the world on news that Arby’s finally found someone will to takeover the roast beef joint and the S&P 500 is up fractionally at the same time. But I am sure that the ability to get these deals done means that there’s a lot of money moving hands out there and those new buyers at Arby’s are going to be spending a lot of money upgrading their sites and their…technology. Yup, whether we’re talking today’s multibillion dollar reinsurance merger or the $2 billion buyout of Timberland, we’re talking about big money and we’re talking about more spending on tech.
Silver’s our big winner today, as our puts continue to earn us profits on SLV’s decline and as I’d noted late last week, I am going to take some profits on maybe about a third of those options on further weakness. And I’ll start that this morning, though SLV will remain my largest notional short position.
Little other movement thus far this morning. Back in a bit with more.
