The 3rd quarter ends with a thud for stocks worldwide. Down about 14% for U.S. stocks (SPY), down about 17% in Europe, 25% for Germany. Gold (GLD) up about 9% for the quarter, U.S. Treasuries soared up with TLT up about 25%, despite the S&P rating down grade.
I am very interested in the new Kindle Fire tablet announced by Amazon, and may purchase one. As for AMZN stock, with a valuation already over $100 billion, that particular tree won't grow to the sky. Apple and ExxonMobil at around $350 billion in market cap are the biggest companies, and can be thought of as a kind of an inhibitor as to how big companies can get. Once companies get that big, they make a lot of enemies, and growth becomes more difficult. Even maintaining streams of revenue can be difficult. So while I think the Kindle Fire is going to be a big seller for AMZN, it is difficult for a big company to have explosive growth.
I was in a decent position for this past week. My max profit is at 154 for GLD (currently 158) and 104 for SPY (currently 113) at October expiration. Bonds are about the only thing going up and I am making some bits of money from being short TLT puts. Of course, it could be better, and the GLD position has seen a huge drawdown as there is still a lot of time premium on my short puts.
For readers wondering why I am posting less, and trading less, it is a matter of time, schedules and priorities. Right now trading and posting are on the back burner and will likely stay there for some time.
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