Monday, September 15, 2008

Black Monday

Well, at least oil is down $5. The underpinnings of the financial system are imploding this morning as Asia has to sit on its hands and just watch, as they are closed for a holiday.

I'm sure WM and AIG will be the next names in focus this morning. If AIG gets a credit downgrade this morning it should add fuel to an already burning building.

I will try to be back before the open. Good luck today. We needed this to happen and we would never have been able to move forward without it happening.

5 comments:

Stewie said...

AIG!! falling thru the floor. in hindsight, i should held those shorts from this morning. bummer....still happy with the trade regardless. keep us posted Upside. You are a legend!

Steve said...

Thanks for your timely coverage of the financials.

What a day! :)

Hey Upside, who's your favorite financial short/chart? I vote for GS.

upsidetrader said...

stew
glad u had a great day-i had aig short then long the short and bac all short--what a day

upsidetrader said...

all of em hehe

Stewie said...

upside: Do you think GS has the best shot of surviving this? I have an account with them.

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.