I am a man of taste, and above all else, a man of wisdom.  There are issues that I discuss with such proficiency and acumen that you would be hard pressed to find a rival.  However, there are topics of high finance and astrophysics that I am quite uninformed about. Mind you, I say uninformed because any piece of knowledge is acquirable. Do not fool yourself into believing that something is beyond your comprehension, that is dumb, and if you every purport that to be the case I will castrate you in vogue. As I have discussed the issue of books and reading in a previous post, do not attempt a retort of my argument as yours will be ad hominem, and nothing more.

As this “correction” has transpired I have found myself oscillating between high cash levels and smaller-than-usual trading positions. This being the case, my approach to a volatile market is to be open minded. By definition, a trader is inherently open-minded; for to not be so is to incure a lovely margin call for staying at a party too late or being too early. Though not always the case, I am constantly training myself to be unemotional, unattached and unburdened by stubborn opinions. The phrases “should be” or “supposed to be” are dangerous, and I would be wary of any man who uses said phrases. Especially, and I cannot stress this enough, the mongoloids who say the 10-year Treasury “should be” at such and such a level. Not only do they lose their clients money, they instill in me a neverending desire to punch holes in drywall and push Republicans down elevator shafts.

Which brings me to my final point of the post, Ben Bernanke is an OG. I loathe those who bash him for they are wholly ignorant of the detriment of deflation and common sense (see Rick Santelli). I imagine many of these self-proclaimed market guru’s are short treasuries and/or manage massive bond portfolios with near-term maturities (see Bill Gross). So, as always, it is evident that most have an agenda. For if they did not, why such hatred for such a gentleman as The Clam?

Because I am a believer in the Bernanked and his liquidity stance, I am long into the FOMC minutes tomorrow (hedged with $UVXY). Cash level still high, but with the help of trading masters @RaginCajun and @Chessnwine I have been scalping trades like a sniper in the West Bank.  I sold out of $AMBA today for a nice 7% gain, fedora tip to @The Fly for that one (I am a buyer on a retest of $17). After taking a 30% gain in $FRO yesterday, I started back in with a 1/4 position and will look to continue building it this year. I added to $CSU, one of my favorite long term plays on the populace in wheeled chairs. Other trades have been made, but nothing worth mentioning.

Lastly, $RAD reports this week, and god damn am I excited. If you do not already know $RAD has does a wonderful job cleaning up their capital structure and because of my time spent, I am banking absurd amounts of coin and will continue to do so as I sell this north of $7 in a year or two.  Watch and learn, my pikerish friends.

For now, allow your humble narrator to take leave. Until next time.

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