FAA HAS NOW PUT A NO FLY BAN ON ENTIRE GULF OF MEXICO...ALERT..ALERThttp://urbansurvival.com/week.htm
FAA Closure in GOM
Looks like the FAA is closing down the Gulf of Mexico to 'unauthorized' aircraft...This coming as a Notice to Airmen (NOTAM) issued late Wednesday night that just popped up in my flying emails this morning:
No pilots may operate an aircraft in the areas covered by this NOTAM (except as described).
Pursuant to 14 CFR section 91.137(a)(1) temporary flight restrictions are in effect for deepwater horizon/mississippi canyon (mc252) incident cleanup and reconstitution operations an area bounded by: 290500n/0904000w or the leeville /lev/ vortac 258 degree radial at 30.1 NM to 300000n/0890000w or the gulfport /gpt/ vortac 169 degree radial at 24.7 NM to 300000n/0870000w or the crestview /cew/ vortac 196 degree radial at 52.2 NM to 280000n/0870000w or the panama city /pfn/ vortac 208 degree radial at 149.6 NM to 280000n/0904000w or the leeville /lev/ vortac 201 degree radial at 76.3 NM to the point of beginning at and below 3000 feet AGL excluding the airspace outside of 12 nautical miles from the us coastline. This area is also depicted on U.S. Gulf coast VFR aeronautical chart id helgc as an area bounded from south pelto 2/sp02 then to south pass 6/sp06 then to chandler 39/ch39 then to pensacola 984/pe984 then to desoto canyon 635/dc635 to south timbalair 242/st242 and then back to original point. All aircraft operations are prohibited except those flights authorized by ATC, routine flights supporting offshore oil operations; federal, state, local and military flight operations supporting oil spill recovery and reconstitution efforts; and air medical and law enforcement operations.
All pilots operating within and near this area including the shoreline should exercise extreme caution due to the numerous low level operations associated with the deepwater horizon/mc-252 incident 3000 feet and below.
Aircraft involved in these operations may make sudden changes in direction, speed, and altitude. For additional information, participating aircraft altitude assignments and awareness, all pilots are recommended to review the following web site dedicated to the aviation cleanup efforts at: https://1afnorth.Region1.Ang.Af.Mil/deepwater_spill/default.Aspx
The incident commander has directed that aircraft participating in the deepwater horizon/mc252 incident, operate at the altitudes assigned by mission type unless otherwise directed.
Oil industry aircraft on routine support missions within the TFR area should not operate below 1500 feet weather permitting until within 2 nautical miles of their landing platform/site and remain on. Their assigned mode 3a code at all times. Flights within the temporary flight restriction area should be conducted under visual meteorological conditions (vmc). In the event instrument meteorological conditions (imc) conditions are encountered, pilot's should attempt to maintain VFR to the maximum extent possible or contact ATC for further instructions or exit the TFR via the safest route.
Participating aircraft in the recovery efforts are required to contact houma air operations at 985-493-7607 for assigned work area and mode 3a beacon code assignments. Aircraft shall squawk the assigned mode 3a beacon code at all times while inside the TFR.
With the exception of aircraft conducting aerial chemical dispersing operations;no fixed wing aircraft are authorized below 1000 feet above the surface unless for landing and takeoff
For additional information on air operations within the deepwater horizon TFR see website: https://1afnorth.Region1.Ang.Af.Mil/deepwater_spill/default.Aspx
Pilots are advised to check notams frequently for possible changes prior to operating in this area.
Exceptions: operations not covered by the above authorizations may be permitted on a case-by-case basis dependent upon safety issues, operational requirements, weather conditions, and traffic volume. Flights authorized under this exception must be conducted under visual flight rules. Pilots requesting flights under this exception must contact the houma deepwater horizon incident air operations center at 985-493-7804 between the hours of 0600-1800 cst, a minimum of 24 hours prior to desired flight time. Operators should be prepared to provide precise details of their requested flight including: pilots name and contact information, company/organization, purpose of flight, type aircraft, callsign, ingress/egress points and times, requested altitude and route of flight. Pilots will then be provided with additional instructions for obtaining final approval and beacon code assignment.
Any aircraft observing oil while operating in the gulf of mexico should report the location to the oil reporting hotline at 866-557-1401 upon landing. Report should include lat/longs of the oil and time observed.
Pilots should be aware that flights approved under this exception are subject to last minute change or cancellation due to the dynamic nature of this event. Houma air operations center at 985-493-7607 is the coordination facility. For information about this NOTAM contact the system operations support center (SOSC) at 202-267-8276
Far be it from me to second-guess the FAA but this may cut down on the number of spill pictures and videos coming out from private pilots in the area... Map with closure area in red here. Eyes wide shut?
To Hunch, or Not to Hunch
You might recall our recent chat about whether to sell covered call options on a certain inverse financial stock that seemed like a good idea at the time. Well, if I had done as I contemplated I would now be up some double-digit percentage on that trade and I'd be counting my money.
If you've forgotten, the idea was that I would sell several covered option contracts when this (inverse) stock was up, then when the price came down this week going into options expiration a week from now, I would have covered and simply pocked something like $100 of option price differential for each underlying 100 shares of stock, which would have effectively lowered my entry cost by a buck, or I would have taken Elaine out to dinner.
That's to say I would have played the Big Rally we've been in these past few days and made money on it while continuing to hold a downside position via the underlying inverse ETF shares.
Could have, should have, would have, but it gets us around to hunches and how & when to play them. This morning, for example, my hunch is that while the market may rally and get some follow-through into next week, this might not be the time to commit 'widow & orphan money' (or kid's college funds) to very long-term positions, but then again, the usual disclaimer applies that I don't do financial advice...I just write about what I've done or am in the process of doing.
One reason for my longer term pessimism if the latest note from Robin Landry to his colleagues in the professional money manager world: