Houston, we have a slight problem. Well, you know where the market is, down pretty hard as Wachovia fights to stay above a dollar even with the bailout in full swing. My small weekend longs have already been met with slap but I will probably end up net even after my long position last week. If a bear can break even on a long bet I consider it a victory.
I don't know if we will melt down further or catch an oversold rally but my guess would be that the sentiment is just to bearish and it may take until tomorrow. Maybe a turnaround Tuesday, we'll have to just wait and see.
By the way, I'm kicking out a weekly newsletter that readers will get dumped into their inbox on Fridays. Sign up in the upper right section of the blog. See "free newsletter". It will be a weekly wrap and some ideas and views on the week ahead.
Monday, September 29, 2008
All The Kings Horses And All The Kings Men....
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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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