Thursday, February 19, 2009

Freaky Friday

So Geithner, Paulson and Bernanke walk into a bar and....sorry I digress.

World markets are lower and U.K. repossessions have climbed to a 12 year high as banks seize 40,000 properties. Not a surprise, and we knew it was coming, but the headline damage is what we have to worry about. Japan's Topix is at the worst level since 1984 and UBS tumbled 16% as America sues them for enabling 52000 of our tax payers to hide money offshore and avoid taxes.

Today is a pivotal day, will we bounce and see a short covering rally near the close or just fall further into the abyss? Good luck.


OBTrice said...

Thanks for all your work.

I was wondering if you had a post about using the 5/20 SMA with stocks, and how to trade the setups.

Thanks again,

upsidetrader said...

hey pat-i do actually have a few in my aechives but i never tagged it so it might be hard to find-i will do a series soon

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.