Tuesday, March 27, 2012

Back to Flat

The post-Bernanke splurge saw what in TMM's eyes was a flight of towels from some core bears in US equities. Yet European markets are not that punchy and the FTSE is below pre-Ben levels. With Month-end / Quarter-end / Year-end noise upon us, it's going to be hard to do anything short-term, so we will settle back, put our feet up and switch on the radio. Apologies to the late great Amy Winehouse for the lament of those stopped out of shorts yesterday with our "Back to Flat".

Ben left no time to regret
Kept his options set
With his same QE safe bet
Shares at another high
I just want to cry
Get on without that guy
He went back to what he knew
Losing me me money being short the Spoo
So I tread a troubled track
My odds are stacked
I'll go back to flat

I only bought back yesterday
I held off a hundred times
yet you come off the highs
just when I am back to.....

I go back to flat

I loved the short too much
That's not enough
You love growth and I ZH puff.
And though I hate to gripe
Well, I don't, IT'S JUST NOT RIGHT !

I only bought it yesterday
I held off a hundred times
yet you come off the highs
just when I am back to.....

I only closed it yesterday
I held off a hundred times
yet you come off the highs
just when I am back to.....

Flat, flat, flat, flat, flat, flat, flat,
I go back to
I go back to

I only bailed it yesterday
I held off a hundred times
yet you come off the highs
just when I am back to.....

I only panicked yesterday
I 've died a hundred times
Yet you come off the highs
As I go back to Flat


Leftback said...

Lovely rhyming, Mr P. You're a Poet, but you don't Know it.

LB racked his exceedingly small brains this week and the best trade we could come up with was Treasury Auction Yield Curve arb, namely selling the long end just ahead of the 2y auction and then buying it back again after the 7y auction.

Bear in mind that there is a Durable Goods and a GDP number in there as well that might have the potential to bring some Cold Steel to equity shorts and Treasury bulls.

Hey, we didn't claim to be creative...

Corey said...

Never would have taken you for a Winehouse fan. Terrific!

Amplitudeinthehouse said...

Being neutral, I share your Yennish Blues..though, having been stuck in a neutral position since the beginning of the year..Amplitudeinthehouse is seeking other avenues to release an acute case of "BB Yennish Blues".

So, he ventured into a new gym today, hoping to zen-out some frustration brought on by our latest blues brother.Half way through the session his mind was encapsulated in the thought of trying to pick a top in the spoos...why so?...well it's been while since Amplitudeinthehouse has got shorty the spoos and , that being the case, he found himself feeling in a similar situation when stumbling around his new playground.

There he was , like his first date, trying to remain relaxed but to no avail....the exercise machines unique shape and contours threw him out at the beginning..until he finally managed to meet the machine half-way..in adjusting the saddle and lifting the lower-back, he found some type of rhythm that eventually left both in pleasurable agreement.

But, he knows from experience these things take a couple times to find the appropriate rhythm...and with that...we're still stuck in the "Yennish Blues".

Memoirs from the diary of a Sydney FX trader thats in the middle of an horrific dry spell, and is beginning to worry, due to the "Yennish Blues" that he my have lost his touch on the entering side of things when it comes time to get shorty!!

Anonymous said...


Love the melancholy feel all around.

Leftback said...

Seems to be a common theme this week, Ampo. If LB were an English King this week, he would be Cnut.

Got a recently non-performing illiquid asset in your portfolio? Go ahead, hedge it, big style. It will then immediately begin to rally, killing your hedge book....

Cor blimey, guv'nor, it's a lot of hard yakka, this old market, innit?

Anonymous said...

Well yesterday was Tue