I’m sorry I’m late with the letter today, but I am out of breath, having run victory laps all morning. IBM (NYSE:IBM) reports blowout earnings, and Apple (NASDAQ:AAPL) absolutely knocked the cover off the ball. It kind of makes my Cisco Systems (NASDAQ:CSCO) options position look pretty good, which has already doubled from my cost. It looks like my friend, technical analyst to the stars, Charles Nenner, owes me a case of 80 proof Bols.
It also looks my hefty long in the (NYSEARCA:SSO) look sweet, the 200% leveraged long in the S&P 500. Huge earnings surprises in global multinational technology stocks ought to give some oomph to the dollar, and provide some juice for my new short in the Euro. I guess this all will make Treasury bonds suck more, much to the benefit of my (NYSEARCA:TBT) long, the leveraged bet that these debt instruments will fall.
A stronger than expected economy certainly make the argument for stronger oil prices even more compelling, which is why the (NYSEARCA:DIG) hit a new two year high today. Investors’ newfound love with paper assets is preventing gold from rallying, despite an $80 plunge in the barbarous relic in just two weeks, which is why I am short the barbarous relic.
Only the Japanese yen is out there mooning me big time, reminding me to be humble. It is grinding around my cost, instead of dropping like a rock, like it should. But I’ll take a push over a loss any day.
All of this explains why my new “Macro Millionaire” service followers are up 25% in their first 7 weeks of trading, bagging 11.5% in January alone.
Please allow this old fart his delusions of grandeur. Was it something I said?