JPM just bought the deposits of WAMU and was brokered by the government as reported by the Wall St. Journal. Anyway,today was a beauty and my thinking paid off big time. I am out of all my longs and basically got what I wanted out of this mess. There is still no deal, things are getting sloppy,and it's politics as usual.My biggest winner was STT which just exploded ( check the last half hour but especially the last minute of trading), I was also long JPM, UYG, DDM and SDS. I kept a quarter of my STT position only because of that close.
Tomorrow is a new day and the plot will thicken, but without me. I'll get back in the sandbox when these children figure it out.
Thursday, September 25, 2008
Standoff
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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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