Random thoughts for traders and investors

Here’s what matters today to you and your money so far today. Back in a bit with more for subscribers. Welcome to all you new members from the July 4th promotion!

Apple a day

Apple’s Grip on Metal Chassis Supplies Leaves Ultrabook Makers Scrambling – Apple’s up another $10 today, now up $40 since we called for it to break out again last Friday morning. I’d expect we get a bit of a rest or even a slight pullback for the very near-term, after this big spike, but I’m still holding all my AAPL common and calls for now. It’s still my biggest position, but that said, if you’re extremely overweight AAPL as I know some of you are, I’d take a look at trimming some of that down right now while it’s up $40 in a straight line.

Libor Rocks

Bob Diamond quits as head of Barclays over rate-fixing scandal – BBC
“Behold, the British establishment, panicked” – BBC
“If Diamond had showed up in the company gym, someone would have clocked him” – John Carney
Can Barclays be salvaged? – Felix Salmon

Bob Diamond Performs “Je Ne Regrette Rien” – Yves Smith

Full Barclays memo on the LIBOR scandal: COO believed BOE instructed bank to lower LIBOR rates – Barclays

This LIBOR scandal is no small thing and has the potential to really be a huge catalyst to the downside for the big banks involved with its rigging for the last decade — and that includes just about all the major US TBTF banks. These banks are totally insolvent but are being allowed by regulators to change the rules and pretend they are healthy…and that collusion and corruption between the bankers and regulators has just been thrown into the public’s awareness by the Barclay’s disclosure that the US and English Regulators were complicit in “fixing” the LIBOR rate. Stay the hell away from the banks from the long side. And if you’re looking to short them, I sure think it’s probably a prime time to start scaling into those shorts and puts again. LPS is probably a great short once again too as a collateral damage play and I’ll likely be adding to that position on my own sheets in the coming weeks.

And on a similar note: How Radical Economics Led to U.S. Independence Bloomberg

God, particles and money – Oh my!

Why Is The ‘God Particle’ Such A Big Deal? Is “capital” and/or “money” our society’s “God Particle”?


It’s Always Sunny in Philadelphia Charlie on Jobs