Monday, July 14, 2008

We Have Issues

Not Angelina by the way. We do have issues and they are too long to detail. Wachovia closed below $10 today. Remember I bought the calls when the stock was about $18 about two weeks ago? That will teach me to ever think things are "cheap" or "near a bottom" in this horrible market. I got the feeling at one point today that we would go down 500 and have FNM and FRE drop to low single digits. Remember what I said over the weekend. I still think these two are worthless. We need a down 500 day.


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.