"We risk becoming the best informed society that has ever died of ignorance"
- Rubén Blades

"You can't make up anything anymore. The world itself is a satire. All you're doing is recording it"
- Art Buchwald

"It's getting exciting now, two and one-half. Think of everything we've accomplished, man. Out these windows, we will view the collapse of financial history. One step closer to economic equilibrium"
- Tyler Durden

"It is your corrupt we claim. It is your evil that will be sought by us. With every breath, we shall hunt them down."
- Boondock Saints

Thursday, August 25, 2011

To Go Long Into The Weekend Or Not To Go Long Into The Weekend

With the threat of Irene in the news recently it would be wise to deliberate about holding long into the weekend.  Should the hurricane make its way up the coast and maintain strong winds, the flooding could be threatening to an already fear driven market.  Buoys for NOAA have reported wind gusts around 48.6 knots, which is enough to cause structural damage.  Nothing too major there but the flooding is the issue and if the pit traders can't get to the Wall Street or if power is lost all the way through the backup backup generator, you can bet that Monday will offer prices at fire-sale levels for equities that will no way be harmed by the storm.  If flooding does happen, Mayor Bloomberg has plans, provided of course, Eric Cantor is not still trying to discuss with his family whether they have the money to help Joplin. 

Hopefully people are prepared with a game plan and monitor markets tomorrow to get a feel what is to come.  There is sure to be many scared traders out there who are not being consoled by the talking heads on CNBC who are oh-so-willing to opine that the sell-off has to do with the hurricane threat or perhaps they'll be too busy laughing at silly sex jokes again while Marc Faber shocks with the truth that the US isn't the same risk-free country it once was.
Station SPGF1

Station 41010