In Atlantic City, the Pier shops at Caesars cost over 200 milllion to rebuild, just 6 years ago. It is a huge mall extending over the ocean. I am not sure if Caesars has any ownership interest in this property. This mall is on the verge of forclosure and was just sold for 2.8 million, less than 2% of what it cost to build. One would think that this upscale mall would be worth substantially more than what it was sold for. Four casinos have already closed in Atlantic City with the Taj Mahal scheduled to close next month. Should Caesars Atlantic City be forced to close their gambling operations, their real estate would have essentially negligible value.
With YCS at 86.60, I just bought a Jan 80/90 call spread for a debit of 5.72 as a test to see what is available. If it pulls back, I am buying some shorter term call or spreads.
I noticed that there was a 1:3 reverse split back in Oct 2011. Since YCS uses futures or options to achieve the 2X, there is always the problem of contango, slippage, and additional expenses for the ETF, tending to bias this to the downside. The 2X ETFs usually has such a warning and even recommends that these type of ETF should only be traded on a daily basis. An good example of this is UVXY. We will just have to keep a close eye on this trade and take profits when we can.
This recorded show is now on YouTube. Just enter "Coast To Coast AM - November 17, 2014" in the search window. He comes on at 14:00
He does raise a few good points about what could cause the financial implosion. What do you think?
For GLD, resistance is 115, formed by the bottom line of the descending triangle. A close above this level could negate the downtrend.
and how to prepare for it. If you miss it, the show will be uploaded to Youtube in a couple of days.
He claims that he had predicted the 2008 financial crisis.
Leading up to the IPO was exciting for him. However, he is probably not suited to be CEO and running the day to day affairs of the company. Perhaps they should be looking for a new CEO. How about Steve Ballmer? He is not doing anything now. (just kidding)
It looks like today's volume will be around 5X the normal volume. For such a low volume stock, he should realize that his comments would result in a 10% pop in share price. Hopefully, this is not a pump and dump.
What happens if stock and options trading is halted. The put options would no longer be trading. Do you think that the put options would then be cash settled by the options exchange?
Think about buying 1,000 of the Jan 2015, 0.50 puts. Wait for a slight rally to get them for around 0.25, $25,000. This would be a 50/50 bet. You risk 25k to win 25k. Chapter 11 will give them some hope of a possible turnaround. Do this only if you think the turnaround will not work out.
Okay, this is Amazon's version of Siri, but it is brilliant.
This is a device I expected Apple to come out with, not Amazon. Be sure to watch the demo video.
The potential is huge. Echo could be programmed to know the user's personal lifestyle to become a personal assistant. Eventually, it could be programmed to converse back and forth with the user, just like a personal friend. This is the future. It is foreseeable that this could also be installed into a robot, to become a companion.
You want to buy it below $8? How about $6.15?
With ARCP at $8.79, just sell short the Jan2016, 7.50 put and collect a premium of 1.35
If the share price stays above 7.50 at expiration, you keep the premium. The premium is yours to keep regardless of what happens to the share price. In the event that the share price drops below 7.50 and the option is "put" to you at this strike price, then your effective share purchase price would be $6.15
If you want to play it a little more conservatively, then sell short the April 2015, 7.00 puts and collect around 0.70
During the panic selling, I sold short the Nov and Dec 7.00, 8.00 & 9.00 puts. Yesterday, I was able to cover my Nov 7.00 puts for 0.05.
My position is Nov and Dec 6.00 & 7.00 calls which were acquired last week. If everything looks okay, I may just exercise my calls.
The last 1 for 4 reverse split occurred in January when UVXY was around 18. Within 2 weeks, the share price hit a high of 108.