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Recently Closed Positions:
Current MPY: 5.1%
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Day Play:
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3-Day Play:
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Longer:
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Commentary:
We recently made another move on RBY. From vacation we are recommending it for short term upside easily to $4+ and long term upside of nearly 50%!
We are stunned by the saga of Greece and the market opinion of something so diverse as NBG. Calling a bottom is a guessing game, but no conservative investor could be more certain that this one is on sale. We saw all of the dynamics of the U.S. banks at play here and failed to accurately gauge the ability of the market as a whole to learn from its mistakes. The bottom was further than we predicted, and because of the Greek government's inability to tell the truth we continue to be mostly on vacation as NBG is not Greece and in our humility we've failed to realize that many don't know that. We agree with many other very smart people, 1 year from today people who buy at this price will smile. They are being punished for 13% budget deficit when the U.S. Congress is budgeting for an 11% deficit! So their deficit will be 50% less than America's within 12 months. Eurostat's involvement alone makes an investment in Greece today more intelligent than anything tied to U.S. bonds which ironically yield on par with Germany's who is currently the Eurozone's model citizen.
Finally we're gonna call the UNG bottom at our suggested $7 mark. Hope you got some.
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Daily or Weekly BS!
Lying Greek politicians & citizens who live off of their neighbors taxes. Is that really what the U.S. wants to become? Realize that U.S. projected budget deficit is nearly 11%, was 10% last year, 3% the year before, and 1% in 2007. VERY BAD.
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