Friday, September 19, 2008

What Do We Do?

I was caught in meetings late so I apologize for no updates last night. What to do? I'm long a little GS and UYG but I am a seller. Too much to soon. We are in amazing times and we have bottomed, but I am a trader, so I will be selling strength. From the bottom yesterday to right now would be ridiculous to chase. If you were long overnight, congratulations. I will be on twitter.


Jim Driscoll said...

Remember, not "the bottom". Just "a bottom".

For example: DJUSRE is up crazy. Sorry, but how is this going to help people buy houses that they can't afford? It won't.

So, if you're looking to short the market, the opportunity is either here, or here soon. We're just a few more bad employment reports away from another dip down.

upsidetrader said...

i agree 100%, unless you were caught short, who in their right mind would buy BAC at $38? This will all work lower but the government's "floor" ie,, no shorting, will make it tough-the only thing that was temporarily fixed were the share prices, the underlying machine is broken

About Me

My photo
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.