I Got Out With A 50% Gain And Thought I Was Cool
January 31st, 2011Meanwhile back at the lair….
Remember to stick to your plan for maximum gains kids. $STUDY
(BHI) U.S. Reports Rig Count Gains 19 Drilling Rigs
January 31st, 2011In its weekly release, Houston-based oilfield services company Baker Hughes Inc. (BHI) reported a rise in the U.S. rig count (number of rigs searching for oil and gas in the country), primarily reflecting an increase in the number of land rigs.
The Baker Hughes rig count, issued since 1944, acts as an important yardstick for drilling contractors such as Transocean Inc. (RIG), Diamond Offshore (DO), Noble Corp. (NE), Pride International (PDE), Nabors Industries (NBR), Patterson-UTI Energy (PTEN) and Helmerich & Payne (HP) in gauging the overall business environment of the oil and gas industry.
Weekly Summary
Rigs engaged in exploration and production in the U.S. totaled 1,732, up by 19 from the previous week’s count. The current nation-wide rig count has almost doubled from the 2009 low of 876 (set in the week ended June 12, 2009) and significantly exceeds the prior-year level of 1,317. I
FCIC Urges: “Learn From History”
January 30th, 2011Many would agree with the sentiment that hindsight is the only exact science, or that hindsight is 20/20, and while some may go with the cliché of ‘no use crying over spilt milk’, there are times when analyzing exactly what went wrong is a valuable exercise, particularly when wanting to avoid a repeat performance. In the United States, the Financial Crisis Inquiry Commission (FCIC) was given the weighty task of investigating the causes, both domestic and global, of the 2007-2010 financial crisis, with the primary goal of correcting flaws in the system to prevent this type of crisis from every taking place again, but also to bring to light willful fraud and abuse that contributed to the financial chaos that went global.
The 10-member FCIC, also known as the Angelides Commission after committee chairman Phil Angelides, was given the power to subpoena witnesses and documents for testimony as it saw fit. The FCIC held its first session on January 13, 2010, hearing the testimonies of a number of banking officials.
Governor Cuomo Declares New York “Functionally Bankrupt”, Seeks Spending Cuts; California Governor Jerry Brown Cites Egypt, Demand Tax Hikes
January 30th, 2011In an interesting compare and contrast scenario, democratic governors from the two largest states have vastly differing ideas regarding what to do about huge budget gaps. New York Governor Andrew Cuomo seeks spending cuts on schools and Medicaid, while California Governor Jerry Brown wants to ram through tax hikes.
The LA Times reports Brown cites unrest in Egypt to make his case for budget vote
Citing the pro-democracy unrest in Egypt and Tunisia, Gov. Jerry Brown called it “unconscionable” that GOP legislators are vowing to block his attempt to ask voters to extend tax hikes to balance the budget.“When democratic ideals and calls for the right to vote are stirring the imagination of young people in Egypt and Tunisia and other parts of the world, we in California can’t say now is the time to block a vote of the people,” Brown said in his first State of the State address in nearly 30 years.
He said the budget has tough choices but that the people “have a right to vote” on the package. He challenged
Buried One Mile Deep In Economic News: Rand Paul Proposes Elimination of HUD; Churches “Walk Away”; China Hard Landing; Repeal of Davis-Bacon
January 26th, 2011Many stories of significance have come my way on housing issues, state debt issues, federal debt issues, pension issues, and other economic items of note. I feel as if I am buried a mile deep news. Here are a few stories that caught my eye.
Senator Rand Paul Proposes Elimination of HUD
I am pleased to report a tremendous deficit cutting idea by senator Rand Paul: Eliminate Energy, HUD and most of Education department
In his first major legislative proposal, U.S. Sen. Rand Paul has proposed cutting government spending by $500 billion in a year, including eliminating the Departments of Energy and Housing and Urban Development and most of the Department of Education.
That is the single best piece of fiscal legislation proposed in years.
Nevada Governor Brian Sandoval Addresses Underfunded Public Pension Plans
While Illinois has jumped off the deep end with tax hikes, Nevada’s Governor says Tax increases last thing Nevada businesses need
Tax increases are the last thing Nevada businesses need now, Gov.
Its Not All Roses, Just Mostly
January 25th, 2011It was a good day with the calls in both $SLW and $ABX that was purchased yesterday netting a quick 29% and 30% each. Had I not sold pre-fed announcement these both ran to R4. I sold at R2. The calls jumped an additional 30% more. Oh well can’t complain. Point is the boomers worked as usual..that is what I call that particular scan that found those two. It actually highlighted manyyyyy gold and silver stocks. I just chose those two.
Glad I dumped the index trades yesterday as the RUT plowed higher today. Market is getting into that rare air I talked about before capping the month off on a high note which was another thing I suspected. February is BBC > bigtime be careful.
Still seeing about even on the breadth indicators. I’m still long halfs in the solars and URZ broke out so nice today.
ABX 
SLW 
URZ 
With all this bragging, I’ll say I’m down on JASO -8%.
I’ve been trading fairly inactively this month as its been very back and forth. I’m also