What’s in the Szelhamos Portfolio?








 


About a month ago, in honor of what would have been Buddy Holly’s 75th birthday a small tribute was paid in his honor in “What Buddy Holly Teaches Us“.


But Buddy Holly wasn’t alone on that fateful stormy night.


Some other time, we’ll get to RIchie Valens, once I get the translation module to function. But for now, I remember The Big Bopper and that great lead in line to his hit, Chantilly Lace”.


You don’t need Viagra to know what you like, but it does help you to remember why you liked it.


Obviously, I liked the 300 point gain.


I liked it less when 200 points of it evaporated in the last minutes of trading.


But still, 3 days in a row of gains is very likable and definitely reinforces for me why I like these big upward spikes in the morning.


More on that, later.


Since these days we’re all about rumor or absence of rumors, the late day drop came as the Financial Times reported that there was some discord among the EU members.


Yeah, I know. Hard to believe. But even more difficult to believe was the the discord all centered around which country’s Rosh Hashonah services the ECB commisioners should attend. There was not much support for Greece on that one.


Can’t say I blame them. The thought of feta based matzoh balls is repugnant to me.


We’ll see how that unforeseen little bump in the road works out. Sometimes being in a union means spending time with your partner’s loved ones.


When will Europe learn?


Since I’m not a very social person it’s not difficult to explain why I was such a late adopter of anything resembling Social Media.


I was so far removed from the scene, that I didn’t even know what Friendster was and couldn’t even bring myself to feign laughter at the jokes directed toward its status of being far removed from the scene.


But I like social media, even though my Google + circle is determined by just a single point.


Take that inviolable laws of Geometry.


Nigerian PrinceI’m still not very social, but I like the egalitraian nature of the network with which you can participate.


You can even choose not to have Nigerian Princes be part of your network.


Me? I would never turn a follower down.


Today I posted a query on StockTwits and Twitter regarding what I saw as a disconnect between Monday’s silver price action and the price of the UltraShort Silver ETF. Just a follow-up to the semi-rant in yesterday’s blog.


Bottom line, I spent more time in bilateral conversation with “Kid Dynamite” via 140 spaces at a time than I have with my Sugar Momma this past week.


The fact that she was on a fun filled trip to Chicago with her friend in birthday celebratory mode is not relevant.


I spend more time with the Kid. I p[icture him as being stooped over and quite elderly.


It was a combination of educational, philosophical, agreement, disagreement, interpretation and a mutually deep seated hatred of 16thy century colonialism.


At least that’s how I interpreted it, still upset with Europe’s role in unseating long established tribal governance, thereby resulting in a flood of poor and unemployed Nigerian Princes.


Regardless, it did introduce me to a new blog. I tend to like those written by people with an authoritative grasp on a topic, yet that write in a breezy and humorous fashion.


In my case, one out of three may even be a stretch.


Today though, despite the final 15 minutes, made it 3 out of 3.


By Meatloaf’s standards, that’s damn good.


Even though there’s still almost 4 weeks left in this option cycle and lots of opportunity for more upside, I took advantage of todays jump out of the box.


I was able to sell weekly calls on British Petroleum, JP Morgan Chase and PowerShares QQQ. I also sold some monthlies on Textron and Dow Chemical.


I was also trying to re-sell some Halliburton, Transocean and DuPont calls, but never got my prices. Too bad, because Transocean hit a rough patch late in the session when it got bitch slapped by the EPA.


I just love it when I can sell calls on my unholy troika of BP, Transocean and Halliburton. Maybe tomorrow.


As Kid Dynamite and I were exchanging Tweets and he was trying to school me, I bought back about 30% of my call options on ProShares UltraShort Silver, locking in a very nice 2 day profit, as silver recouped some of its losses.


Assuming that everything Kid Dynamite tried to transmit to my knowledge base was false, you’d be left wondering why the UltraShort ETF was down by 18%, whereas the SIlver ETF (SLV) was up by just 4.3%


2 to 1 correlation, my ass. At least they got the directions right today.


But for some bizarre reason I have a driving desire to know what time it is in London.


Apparently, it’s because I now know that the UltraShort Silver ETF share price is pegged to the morning “London Fix”


I miss the days when “London Fix” referred to what killed a punk rock drummer..


I still remember back about 30 years when the morning business report always started with the London Gold FIx. Back then I was young and foolish and thought that I would conquer the world one gold contract at a time.


Amazing how not much has changed.


In what can only be called an incredible coincidence, about a month ago, I mentioned the London Gold Market Fixing Ltd. Committee in “Did I Not get that Memo? ” and the blog entry also featured Eddie Murphy.


In case you’re wondering, I’m neither a transvestite, nor do I currently have a restraining order out against me.


Whatever, it’s still an issue of those colonizing bastards.


Financial Times. London Fix. They’re all wagging our tails, but then again, maybe that’s the Viagra.


 


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