Maybe it's 20 years of doing this for a living but my gut says lower here. I don't know how to describe it, but it is haunting me. Bear Stearns being allegedly cut off from international business, Drake Capital a multi strategy fund getting attacked with redemptions, nasty Wells Fargo rumors, Fannie Mae chairman saying we are only 1/3 of the way through housing downturn. The financials closing at the lows.No follow through. I really believe that we haven't seen the start of hedge fund blow ups. That space always has a delayed reaction. It just doesn't feel right and the good karma is lost on me.. I am starting to believe it was just a fed induced short covering rally. The dollar has left the building, and as a result oil is popping. Day by day with this market, thats all I can say. I just don't trust it here. Give me 600 down and I'll be happy as a clam.
Wednesday, March 12, 2008
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About Me
- upsidetrader
- I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.
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