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[James Quillian]

Back in 2006, when I was known as a tin horned conspiracy theorist, I was insisting that privateers were supporting stock prices in return for favors from the Federal Reserve and Treasury department. Finally, the Fed and Treasury have no favors, rewards or anything of value to offer. Of course the same privateers are being asked to guide the financial markets. I suspect the privateers are about go into the “its every man for himself” mode and abandon their professional friendship with the government. What we are about to witness is very much like what Napoleon’s Elite Republican Guard did at the battle of Waterloo. When the inevitable became obvious, they ran like hell. On another note, in my entire 40+ years of following the financial markets I have never known of Standard and Poors to send a spokesmen out to talk on news shows. My suspicion has always been that there is normally a high degree of camaraderie among the financial elite in the world. I suspect there is a crack in some high level friendships and this is at the bottom of S&P’s sudden interest in giving the U.S. an AA rating. I think there is tension among friends and this will bolster the bearish case. My approach hasn’t changed. I am adding shorts every time my equity increase, snowballing. I am short so many stocks that I have no idea what business most of these companies are in. Additional Shorts from 8/9 AMAG MDRX SPIN added to positions in X and SHLD

Edited by James Quillian, 10 August 2011 - 09:41 PM.