Thursday cinema & library

Note: Adding links later today (after work).

10:41 am (Hawaii) Took a spin with FAS, in at 16.55, rose to 16.73 or so, and dropped. Stopped out at 16.40. Very small loss, but the size of position is clearly affecting my exit strategy. Had I doubled the position, I would've bailed at 16.60 or 16.65. But because the position was so small, I was willing to ride a swing back up. After getting stopped out, FAS dipped to 16.15 or so before rallying back to 16.50 afterhours.

That's all I did today. Planning to rework strategy to lock in small gains rather than "lock in" small losses in this turbulence. How long will the ECU's decision have an effect? Could be weeks, days, hours. Maybe the market dives tomorrow. As Max Keiser (above) noted, there has been no sustaining solution. It's all printing fiat and bullshit politics. Not that I want to go long FAZ yet, even at 35+.

There are desperate fund managers out there. Everyone with a toe in the market will be bobbing and weaving through the torrent of bad, dumb news coming out of the banksters and EU and Fed. The managers will keep dipping in, though, to salvage a lost year. It's not about economics or fundamentals or technicals right now. It's about big money and where it swims. Pilot fish time.

Blogs

Reggie Middleton: Banks have volunteered at gunpoint to get 50% taken - no credit event? (Oct 27)
Zero Hedge: Euro bailout cracks emerge; Greece 'just says no' (Oct 27)

Turd Ferguson: Fast market = fast update (Oct 27)

Charles Hugh Smith: EU leaders throw Europe a plutonium life preserver (Oct 27)

Gold Seek: Why mega gold stocks rally is imminent (Oct 27)

Casey Research: An opportunity to repeat a good mistake? (Oct 20?)

Vlogs

RT: Max Keiser: Debt slash - a debt hike, collapse guaranteed! (Oct 27)

H1INC: Learn the game before you play it (Oct 27)

Hit the Bid: Dow 20 thou believe it (Oct 27)

Hit the Bid: Greatest stock market rally ever continues (Oct 27)

Audio

Mainstream
(video) Fox: UKIP leader Nigel Farage (Oct 27)

(video) Euronews: China welcomes EU debt deal (Oct 27)

(video) Euronews: Skepticism in Greece after latest EU deal (Oct 27)
Wall St Journal: Baidu 3Q profit jumps 80%, predicts strong 4Q (Oct 27)

Wall St Journal: The Vatican's monetary wisdom (Oct 27)
The Telegraph: Eurozone bailout: holes emerge in 'grand solution' to solve EU debt crisis (Oct 27)
SEC: MF Global revolving credit facility (June 29)