I just saw a clip of our President discussing his chat with Paulson and I honestly don't think he knows what Fannie or Freddie is. Maybe a new country dance or something. News is coming in rapidly and the spokesman for Freddie said they have options, like cutting their dividend. Wow, that should help for about five minutes. Maybe a couple of trailer parks in the dust bowl. Today was a beauty, and all my action happened real early, then some sideways action, then the bogus rumor that jacked everything up. I stopped trading when things started looking more like a casino than a market. Fannie just came out a second ago and told us they have loads of cash and things are fine. Where were they all day? I don't get it, I really don't. Maybe something good will come out of this weekend. I am so tempted to buy a boatload of LEH but I threw cold water on my face. We are the greatest country on God's green earth and it is an absolute goat screw trying to get our leaders on the same page. The three stooges could do a better job.
Friday, July 11, 2008
Holy S#@$ What Was That?
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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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