Tuesday, November 18, 2008

Kicking and Screaming

That's how the market is reacting to hitting the 8000 neighborhood. At times today it started acing like a magnet to that level but then it would fight and run from the level like a dog running from a shot. The XLF did make new lows but bounced gingerly from the level. It was a green day with the help of SKF, SMN and BTU, but you had to be "wicked" quick as they say in South Boston and I was stopped on trades many times. It's just that type of market right now. The market still stunk today, volume was light but the depth and breath of the market was lacking. The mega caps got a bump but nothing else. Certainly the financials acted poorly. Great get Soren.

I was talking to a trading buddy today who just killed it short today and he said it doesn't matter what the market does as long as he can make money and I said that all I care about is that it's open.

Watching CNBC, what a mook Dodd is. Bloated charlatan.


אנטי-סופיטליסט said...

Dodd the guy that got a VIP mortgage from countrywide?
How about Frank who had a live in who was an upper echelon goof at FNM when Frank was pushing for more for FNM- dont see that in the papers much.

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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.