They seem to be the culprit for the brutal thrashing of the commodity sector. The chatter is that there is fear of more funds rolling over. Whether it's true or not, perception is reality and the only cure will be time, meaning time goes by and nothing fails. In the interim, everyone is looking over their shoulders, and rightfully so.
The last two days have eclipsed my personal beat best as far as profitability and I'm in my own little bull market on the short side as I have been nothing but short the commodity space. I am looking for a bounce as nothing goes strait down, if you are a steady reader of my blog you know where my head is on all this stuff. You guys know my moves today because I posted a few times, so I won't bore you with details.
It's hard for me to be amazed, but I was in awe of this brutal thrashing of commodities the last couple of days. Even OPEC is saying oil is going lower, freaking hysterical. Black boxes, programs, hedge funds, mutual funds--everyone is caught-. and everyone is either taking big losses or taking smaller profits.
Najarian is talking about cell phones and Nokia---so two years ago. I put NOK in the same dumpster as DELL. lATER.
Wednesday, September 3, 2008
Hedge Funds
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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.
2 comments:
do you ever notice that biatch Michelle Carruso Cabrera on CNBC when she talks about a hedge fund going under. She gets so excited and it all giddy. Man, she really bothers me. My least favorite by far. I love Mark Haines and Erin Burnette tho. They seem like good people.
cnbc is background noiss for me--art cashen is the only guy i turn the volume up for
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