Thursday, March 13, 2008

It's A Headline Market Right Now

Standard and Poors came out and opined that most or half of write offs by the banks are done. Isn't a bottom put in a little further along in the unwinding? Do you think Carlyle Group was the ONLY hedge fund that abused 35-1 leverage? I don't. Barney Frank actually has a plan out there,introduced today,that could actually could be a game changer, but we will have to see what kind of traction it grabs in the days ahead. I have to give the bulls this one but remember past rallies and how they ended. The market couldn't rally on it's own today and needed a headline catalyst to prompt it. Just more short covering I think.


Stewie said...

hey buddy. we missed you on wall streak today.

About Me

My photo
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.