Wednesday, June 4, 2008

Not Pretty

LEH broke $30 in pre market and is down an additional 5% and they are reaching out to foreign investors for cash. The plot thickens here so stay tuned. I hope it doesn't end like the Bear. The financials will continue to be pressured and UYG will be a trade today(short) I'm sure.

The ADP number(don't trust it) said jobs grew by 40,000 and futures caught a slight bump and oil is down a buck. I think we go to 10,000 with an Obama presidency anyway. Anyone else?

4 comments:

Bill aka NO DooDahs! said...

10,000 is pretty ambitious, considering the S&P is only around 1400 right now.

Oh, did you mean DOW 10,000? LOL

Take a look at who is Obama's Campaign Finance Chair, how much investment money he manages, the businesses he owns, and ask yourself how anti-Wall Street Obama is really gonna be.

There's less difference between the Dempublican and Republicrat candidates than you think there is.

Darwin said...

Upside, How low does XLF go on a break of support?

upsidetrader said...

Hey Bill
I can't disagree that the similarities are becoming so much more evident. I believe that both parties have lost their way and the polarization is mind boggling. If your'e a Dem you are considered a bomb throwing liberal socialist and if you are a Rep you are considered a neo-con of the same ilk as Cheney or Rummy. Where are the good old days? I just happen to think Obama is a professional orator and a completely empty suit. Not wild about Johnny Boy either

upside

upsidetrader said...

darwin
not sure i get the question but 23.50 would not be good

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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.