Still Short on Yahoo, Toyota - But a Diehard Dollar Long
Greenback stronger than web companies, automakers.
Hello from New York, where my morning included one of those "You remember we have that thing at 10:30, right?" moments.
Suffice it to say, the real answer was "It would honestly be utterly impossible for me to have any less of an idea what you're talking about."
Being an experienced Married Guy, however, what I went with instead was "Absolutely! 25 minutes is all I need to shower, shave, dress and get myself crosstown."
Late or not, I still took (or felt as though I had to take) Mr. Market's Gift du Jour: The pop in Yahoo (YHOO) on the announcement that CEO Jerry Yang would be leaving to pursue a career which doesn't involve getting yelled at by Carl Icahn on an hourly basis.
Here's what else I'm watching now that I have my feet back under me:
- Mr. Yang's decision to stick around Yahoo in order to cast his slight shadow over the work of his replacement? Let's just say I consider that decision a little gift from the fates to me for managing to get my short executed and make it to the 10:30 with Mrs. Jeffmacke.
If Mr. Market wants to make it a clean sweep in terms of loving me (and even mentioning that he might is akin to bragging about a no-hitter 6 innings into a game), he'll come up with a half-baked bailout for America's auto industry. As a Toyota (TM) short, "Alive and sputtering" is how I want my Big 2.5. Chapter 11, honestly, would be even better for my Toyota short.
If I seem cynical to you, A) we were watching different markets or B) you probably haven't been trading long. Of course I'm cynical. I'm a trader and I work on TV. Either one alone would make me inclined to assume the worst; together, I'm lucky I haven't developed a facial twitch yet.
Shorting doesn't mean I don't count my blessings, love my kids, adore Mrs. Jeffmacke or otherwise appreciate the embarrassment of riches the Lord has showered upon me. It means I'm playing the market I have, not the one I'm wishing I had.
If only to support my Rose-Colored Glasses outlook on the world: I remain long the US Dollar via the UUP ETF. Greatest Country in the World, baby (regardless of our dying automakers and overpriced search engines).
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