Ricks Picks

Whistling Past the Autumn Equinox

EST

Flipping through The Wall Street Journal‘s business section Tuesday got me fired up about buying some cheap puts — perhaps even straddling them with a long position in gold. Talk about depressing! Moody’s cut Ford Motor’s bond rating to junk status; 48 states are going after Google for antitrust violations; steel manufacturers are getting hammered by, of all things, a dearth of vegetables suitable for canning; and investors were contemplating a downturn in the economy with three weeks remaining in September, statistically the worst month of the year for stocks.

Loading up on Puts

Trump will need to make nice with China, stepping up the pace of his bullish tweets, if he’s going to hold the stock market buoyant as the autumn equinox approaches. Mr. Market loves to scare the hell out of investors at this time of year, and they have plenty to worry about. As for loading up on put options, so far the bet has taxed the nerves and patience of traders looking for the right moment to get short. Every time things seem to be going their way, there’s the Trumpster with an encouraging word about the trade talks, or Fed Chairman Powell scuddling about in his knee pads, succoring Wall Street’s needy. Their little dog-and-pony show seems to be working, but how long will the distraction last?

1 comment… add one
John Jay September 11, 2019, 10:16 am

Speaking of the automobile industry.
I pride myself on being up to date on new technology waiting in the wings, but here is one that I really missed…………………..

https://tinyurl.com/y46boeqg

The new Lamborghini Sian hybrid does away with primitive lithium cell phone batteries (Tesla) and uses MIT designed super capacitors:

“Lamborghini worked with researchers from the Massachusetts Institute of Technology to develop its new supercapacitor technology. Unlike lithium batteries, which store energy in chemical form, capacitors store electricity in an electrical field — like static collecting on a balloon. They can charge faster, have longer life cycles and are more durable than lithium batteries. Supercapacitors are three times more powerful than batteries of similar weight and three times lighter than batteries of similar power.”

And, for the Wall Street connection:
“The Sian has a starting price of $3.6 million. But even if you have the cash, you probably can’t get one. Lamborghini instantly sold out of all 63 cars being produced.”
Damn it!
They priced it too low again!
Thanks MIT!

The best and brightest of these young guys have such a complete and integrated grasp of math, physics, and chemistry it is astounding what they are thinking up and making happen.

But, I will always argue that, in the end, the human tailings that are the result of the 8 billion human “Ore” units required to be refined to produce the MIT types are already in the process of destroying our advanced civilization!
The classic Greek Tragedy!

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