Tuesday, June 3, 2008

No Turnaround Tuesday

Manic trading for sure. I made 4 on FSLR short, a buck and a half on UYG short on different trades and a buck and a half on LEH. I lost a half buck on COF short, bad timing and I took a call, I blame my wife every time I lose money. Why not, I have to blame somebody. When I was short a little BSC a while ago, it wasn't until I heard from my sell side buddy,who is impeccable, that that contra brokers had shut the window on BSC (if you can't find the symbol anymore that's Bear Stearns) over in Europe- that's when it all hit the fan. I made a little, not the tons I should have made. I could have paid of any debt I ever had with some puts on that one and bought a chalet in Lake Como if I listened a little harder. The financial meltdown was new to me and I never thought it could happen. Lehman on the other hand is not having such problems,at least yet, and it has been a wonderful short. I am out as a short and will keep a serious eye on this one for a strong dead cat ounce. Not yet though, I have to do some more due dilly. The planet is now officially short the name and they have already told us the quarter will suck so it could be a keeper on the long side at the right price. Maybe I'm sentimental because I used to work there.


About Me

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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.