Take physic, pomp

I don’t think you want to be long anything Venezuela at the bell today

Just my opinion.

Tomorrow January 1st, Raul Castro is heading up the big act to mark the 50th anniversary of the Cuban Revolution. So be it. Also Chávez will be there to speechify, but the street rumbling is that El Hugo going to use either this speech or a speech right afterwards in Venezuela to mark out gov’t policy for the year ahead.

Anyone who can remember back to early January 2007 and the speech he made to Venezuela’s parliament just after winning the Prez election will know what kind of effect a Hugo policy-mapping speech can have on your back pocket (were you long CANTV/Vzla bonds/GRZ/etc etc that day? I hope not). So consider this a headsup. As usual I’m sitting with cash on the sidelines waiting for the market to toss me a bone. One might come my way by Monday morning. Woof woof.

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