Monday, September 22, 2008

No Place to Hide

What do you expect the market to do when the Emperor and his Parliament employ rules of mass confusion with a days notice? Hell, we'll figure it out-it's only a multi-trillion dollar beast that you moved the goal posts on.

Well, the financials were down 8% without folks having the ability to short. Isn't the irony delicious? The commodities started off strong enough but faded, and oil was up $20 a barrel at one point and CNBC is back with the "AMERICAS ENERGY CRISIS" banner plastered on the tube. Didn't we just slay that beast? I guess not. Yea, I know, something to do with the front month contract expiring. But $20?? Damn, we have to go get those speculators that caused the short squeeze. Let's see what Paulson does if there is ever a short squeeze in the financials. I sure hope he and his buddies in Congress attack it with the same passion as the oil speculators and the financial shorts. I propose a " NO BUY LIST" so all of us shorts can have a grand old time. We'll barbecue after, it will be fun.

I'm just wondering if Goldman will be paying Fidelity with toaster ovens instead of research for order flow now? I forgot you can't do that anymore either.

By the way check out stockjockey over at 1440 Wall St. who has an amazing blog and a nice post on today's oil move and the possibility of more hedge fund implosions. I couldn't agree more.


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.