Under the stewardship of famous R.I.N.O (Republican in name only) George W., I would constantly suggest that he and his entire administration just shut up, zip it, shut your pie hole. I called it the "pundit podium effect", meaning every time they pontificated rhetoric from the podium, the market would collapse. Bush and Paulson were good for thousands of lost points on the DOW and now the new guy is doing it too-except faster. Lets's recap shall we? Two Monday's ago we were supposed to have Geithner save the world with his boyish good looks and Ivy League charm. What happened? The schmuckweeds on the Hill needed the glory that day for the porkulus plan, so Timbo was pushed back a day until Tuesday. Well Tuesday came and he layed a big fat egg, but let me be clear, we were blinded by fog. We were then promised more clarity-but nada. But on Wednesday the big guy grabbed the microphone to save the housing market-again nada, but a goodly amount of outrage. Yesterday, Ben Bernanke the newly anointed Tony Robbins of all things financial spoke, and the reviews were complimentary if not swooning. I was waiting for Variety magazine and TMZ to show up with their best paparazzi. Last night the big guy tried to close the deal with a happy recap of the last few abysmal week and bold fresh look forward. NADA again. But wait---we have a stress test for the financials that we have to now wait a few weeks for. LOL. I'll give them a f**king stress test. I probably missed a few high level media events in between, oh I forgot, Larry Summers fell asleep at Monday's impromtu economic summit.
I believe we are down about 1300 points from that Monday.I was so looking forward to leadership I could count on.
Wednesday, February 25, 2009
Just---Stop------Talking
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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.
8 comments:
So, when do we move out of the US to....Oh hell, where CAN we move to?
Politicians don't and shouldn't care about short term market movements. If I was a politician I would laugh my ass off if the market went down when I spoke. Wall street acts like a teenage girl.
30+ days? Smoke a doober.....Yes, wall street acts like a teenage girl.
Wall Street acts like a testosterone-poisoned BOY. Focused on short term gains, no commitments, no reliability. Wall Street is a giant casino. The odds favor the house and the players get fleeced.
I'm confused. Isn't this confusion and collateral damage what you are looking for as a trader. I've read your posts and you are profiting quite well, both long and short at the expense of the market turmoil. Am I wrong?
gl
u r right and i am profiting-i love to throw pie at media and politicians-how long u been reading thr blog? lol
sia
u r right they shouldnt care about the market but they should care about the voters
@upside
Been reading your blog a couple of months. It's excellent! Found you via Howard's blog.
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