Blog : Personal Holdings, Oil, North Korea, Russia, Market Crash
by Peter Leeds on October 9th, 2014
= Congratulations to Christopher James Consolo, for winning our first Peter Leeds Stock Market Trading Scholarship!Christopher is entering his second year at California State Polytech in Pomona, where he is working on a degree in Business Administration with an emphasis in finance.
Congratulations and thanks as well to all of our numerous entrants from all corners of the country. Christopher, one of my team members will be in touch, your prize is on it's way.
= Blood on the markets today, with the DJIA falling as much as 340 points. Weakness in Europe set off the skid, but it was exasperated because yesterday's massive jump (meaning there was further to fall).
Will there be further weakness? Almost certainly, but all losses are likely to be recovered in the coming weeks, in my opinion. I was a buyer today.
= Some of my personal holdings which benefited, ignored, or were unaffected by today's market collapse:
- GLD
- DE
- TBF
- LUV (I'm short on this ticker, meaning I want it to go down)
- PPLT
- CORN
- SOYB
- JCP (I'm short on this one also)
- AAPL (Just bought today, I was short last week)
- NUAN
= Quick Fix comes out Wednesday. Subscribers to PeterLeeds.com only, so take a free trial if you haven't already.
= Comments from our Facebook page today, which bear repeating:"ISIS is a serious threat. However, it monopolizes most of the media focus. Issues they haven't mentioned nearly enough, but are very significant:
- India and Pakistan have renewed military hostilities over the disputed Kashmir region.
- Kim Jun Un (North Korea) is apparently very ill. That puts his little sister, Kim Sul-song in charge of one of the world's largest standing armies.
- Ukraine cease-fire has fallen apart. With a harsh winter coming, many European nations are having heating oil shortages already, and much of Ukraine hasn't had hot water in a while.
- About a third of Europe's fuel comes from Russia. This is a major reason why America has had trouble convincing Europe to stand up to Russia."
= In terms of Crude Oil, WTI is at $86, down sharply over the last three months. I already have a position in UWTI, but held back some cash for hopes of a further fall to even lower levels.
I may pick up some more, but only since my time horizon is months or years. I don't personally expect China to stop using oil, and I would expect OPEC (on Nov. 27th) to push back against Saudi Arabia's plans to over-supply to drive marginal producers out of business. Yes, there is currently more supply than ever, and the global economy is stalling out. In my opinion, THAT is why it may be a good time to get involved. Just like Warren Buffet buys snow shovels in the summer, not the winter.
As of January 2017 we no longer publish the blog and it has been removed from the webiste menu.
You are reading this old blog entry because we still like to reference it. :-)
You are reading this old blog entry because we still like to reference it. :-)
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