Ciao Va Tackle Traders!
Last week we pushed through earnings, some were good, some not so good. For one I had incorrect information as to when SunPower was having their earnings and was surprised by what took place on the 2nd of August. I had a half covering of the stock, thus I was able to sneak some cashflow out of it and compound some free shares—there is nothing wrong with a bit of luck in markets. Tesla and Freeport McMohran, however, made strong appearances and look forward to getting back in the game with them via Naked Puts and Bull Puts Spreads. On the other hand X had positive earnings, but were a bit shy of expectations and the stock sucked back to support, now putting it in an appealing position.
As far as my travels go Rob and I left the island of Sardinia and made our way to Genova to visit one of my good friends, Michele Sozzi. Michele is a very qualified Chef and an outstanding human being—he use to live with my family in the United States many years ago. Its been fun getting to see the city through his eyes, teaching him and his crew about the markets—that and every night we are treated to massive 5-7 course meals at his restaurant, free of charge. But that doesn’t mean we would shy away from leaving generous tips on behalf of United States Steel Corp, especially after a bottle of Albanian “Alcool Lemoncheda” was consumed.
In other news, an offer came to the table to go to Greece and help Syrian Refugees make it safely to land and into Europe. Its in the process of being brokered and hopefully Rob and I can make it happen. Since my homeland stirred up that hornets nest I feel obligated to help out, especially since I have a friend on the ground already. If anyone would like to join feel free to message me on Facebook or in Tackle’s clubhouse. #makeamericacareagain
Im putting this on back on the board. It’s hovering at support, channeling nicely, and keeps receiving good news and analyst upgrades.
USO—United States Oil Fund.
Crude has been testing that $50 resistance point and obviously this can go both ways: break-out, or, retracement. Thus prepare to realize gains or strangle your position. I have the Sept $10 and $9.5 puts floating about.
X—United States Steel
True to her A.T.R. this gal can be testy. If you issued naked puts after earnings then you had a bit of a scare on that suck-back. However, she seems to have settled down and the analysts have raised their stock target from $24 to $25 per share. I as well see those numbers being hit this week and maybe a higher push come early next week.
GDX—Vanneck Vectors Gold Miners E.T.F.
I am a bit worried about precious metals at the moment. The recent spike in the dollar my initiate a retracement, especially since the dollar’s spike was fueled by positive economic data and the fact it is bouncing off a very strong support level. I have my position strangled and will see if this rally in the dollar will be short-lived or not. I
Business as usual with this one. It received a massive spike in earnings followed by a slight bullish-retracement. I see $16 per share as a near-term possibility.
I am uncovered at the moment but considering selling calls against my position. You see, FSLR is testing a major resistance level in and around $50 per share. If broken this could lead to a break-out, if rejected one can anticipate a bullish retracement.
Well, she got beat up on August the 2nd and rapidly dropped back down to support. However, she settled down and settled up. Analysts considered downgrading SPWR down to $6 per share for literally and hour, then upgraded the stock to above $10 per share. Technically she looks ready to head back north and if you have not purchased shares now might a good time to do so.
I had a feeling Tesla would have a strong showing in its earnings. I plan on firing off a bull-put on Tues-Wed of this week. Well done, Elon.
Environmental Hedging: Why Travel?
So what does a trading system have to do with travel, exactly? Well, for one a trading system is nothing more than a means of generating capital to either be reinvested or spent, I suppose. In the case of Environmental Hedging the capital generated should first be reinvested into our environmentally conducive energy products, food, and environmentally friendly modes of transportation.
But, as mentioned in the very first blog I wrote about 11 weeks ago, I as well suggested that this system can be used to generate the necessary capital to experience the world in an authentic way. I know for a fact that much of the Western world’s environmentally reluctant behavior comes from a very simple, rather mundane lack of experience in the natural and cultural worlds.
For example, American citizen’s are some of the least traveled peoples of the world, ranking in the lowest echelon of international passport holders in the developed world. I very much believe this is reflected in our domestic politics and foreign policy in a frightening way. Not only does American ethos currently exhibit fear of foreign immigrates and the dilution of “American Values” but the way in which this fear postures itself politically is equally laudable.
For “American Exceptionalism” to be a real thing it is paramount for Americans to understand the world in which the majority of humanity lives. Authentic Travel, as far I can tell, is the best way for the average America to remedy their prejudices, open their minds, and learn what it really takes to be a global leader beyond military might. Not many us us realize that our high level of affluence is predicated on the fact that the world has faith and confidence in us—it is not in our interest to abuse that trust, whatsoever.
But from the point of view of conspicuous consumption, however…if you ask a person if time and money was not an issue and asked them what they would spend their time and money doing, 9 out of 10 people would say “world travel”. This common response comes from something that as human we collectively share—which is, the genetic predisposition to be creatures of curiosity. Many of us just want to see the world, in and of itself, nothing more, and nothing less.
As one of my favorite philosophers, Giambattista Vico one said: “Curiosity is the father of invention, the daughter of ignorance, and the mother of wisdom. And opening the mind’s of men, gives birth to wonder.” Its funny how in travel curiosity is a two-way street. For one, curiosity may have taken you abroad, but as a foreigner in a foreign land you yourself are an object of curiosity. The locals are interested in not only where you are from but also what kind of foreigner you in fact are. And to be honest, not very many people like American culture. But, paradoxically, most people in the world consume American culture and rather enjoy the American individual. Its like being the proverbial red-headed step child. Once they discover you have a soul, all is good.
Therefore, not only is important for Americans to travel more often but it also important for Americans to travel well. For one, it is a healthy thing to destroy stereotypes on both sides of the equation. it is only on this level playing field will globalization function properly and being able to stare the other in the eye and hear their side of the story is essential to a level playing field. One must be open to the other’s perspective. That will always the first step in improving our cultural and social environments, no matter where you are from or where you are.
From the standpoint of our natural environment, however… I challenge you to go spend a month in the Amazon and tell me human beings are not currently causing a mass-extinction. Or, for that matter, go stand at the foot of one of the Denali glaciers and tell me that it is not receding at a unnatural pace. Or go hang out with a Belizean Conch fishermen, ask him about coral bleaching and ocean levels…
You will be blown away by what you can learn about the world by going and seeing it for yourself. Plus…its freaking fun, it doesn’t always have to be somber or high and mighty. Its a great way to achieve happiness in many respects. The catch 22 I suppose is that the experience of travel costs money. This is why we have Environmental Hedging, folks! The system will generate that capital. Also there is the question of: “how does one travel well?” To answer that question I will detail in my subsequent blogs the Categories of Authentic Travel. Stay Tuned!!!
The video attached is of Sardinia, Italy—which is an island off the coast of the mainland. This is where Italians go to vacation and let loose. We found ourselves there by basically spinning a map of Italy and where ever that finger landed we went. We really lucked out, the island is incredibly fun.