Say what you like about Carlos Slim and his preference for capitalist hegemony
rather than philanthropy - the man can trade. In the years to come he will
likely widen the gap between the richest man in the world and everyone else.
A few weeks back as Zero Hedge wrongfully speculated (surprise, surprise...)
that the silver shorts were DOA, because Carlos Slim was about to purchase
the remaining physical silver out of the market - Mr. Slim was out actively
hedging (selling short) his own mine production two to three years out. In
essence, likely more than doubling the market price he will receive if silver
continues to trade along the parabolic arc as expressed by the Nasdaq, Circa
2000.
Glad that Market Anthropology and Carlos are on the same page here.
On a side note - it was brought to my attention that some folks
are experiencing problems with their RSS feeds with my last piece (this Saturday, here).
I am trying to resolve the matter, but it may take a few days. I try to routinely
update the Chart
Lab section of the site. Unfortunately it will not show up in the RSS feed
which draws from the main page.
I just joined Twitter. All my trades and occasional market musings
are disclosed in real-time here.
Although I am an active trader, I have always taken a broad perspective when
approaching the markets. I respect the Big Picture and attempt to place each
piece of information within its appropriate context and timeframe. I have found
that without this approach, there is very little understanding of ones expectations
in the market and an endless potential for risk.
I am not a stock picker - but trade the broader market itself in varying timeframes.
I want to know which way the prevailing wind is blowing, where the doldrums
can be expected and where the shoals will likely rise. I will not claim to
know which vessel is the fastest or most comfortable for passage - but I can
read the charts and know the risks.
I am not a salesperson for the market and its many wares. I observe it, contextualize
its moving parts - both visible and discrete - and interpret.
I practice Market Anthropology - Welcome to my notes.
Erik Swarts is not a registered investment advisor. Under no circumstances
should any content be used or interpreted as a recommendation for any investment,
trade or approach to the markets. Trading and investing can be hazardous to
your wealth. Any investment decisions must in all cases be made by the reader
or by his or her registered investment advisor. This is strictly for educational
and informational purposes only. All opinions expressed by Mr. Swarts are subject
to change without notice, and the reader should always obtain current information
and perform their own due diligence before making any investment or trading
decision.
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