I didn't know the U.S. Government was in the business of investing in or advising on the stock market.
This morning in a bizarre comment, the White House recommended that investors avoid Russia stocks as the political maneuvering moves into a higher phase ahead of the annexation of Crimea on the 21st.
If I am a U.S. stock investor am I now thinking, "isn’t this exactly the kind of thing I would expect to hear from the Russian government - manipulative and a little desperate?"
Beyond the absurd, we have been quick to point out Russia, while oversold, hasn't seen the "blood in the streets moment." We are not talking about actual blood we are talking about the metaphor used by stock players to when a market is overdone and should be bought.
We saw opportunity last week to bet on no military escalation out of the weekend but to play it tactically.
We were in selling RSX calls yesterday and will do so today.
Speaking of stock players, apparently the US government is now one...