Update

The view of a potential MS/WB hookup is being viewed, at least for now, as two drunks trying to hold each other up. I sold MS and UYG for a small profit but got stopped at a small loss on my small GS position that I initiated this morning.

Things change by the minute so I'm watching closely. Still choppy and volatile and no "real" believers in anything so far. I'll try to twitter it up if I can find the time today. Good luck

"No Ticky No Shirty"

That's what Barclays has just told Mr. Paulson. They have walked away unless the Fed gives them a guarantee, which Paulson has said is out of the question. Unless things change, and fast, Lehman will be heading for liquidation. Watch out below.

At least we have all that good news though from AIG, MER and WM tomorrow. Gonna be ugly.

Broken Revenue Models And Dilution Kill

These two are poster boys on how to just destroy your business and then at, or near the very bottom, go out and raise BOZILLIONS in cash, diluting the common and killing the shareholder. I believe there will be more of this tomfoolery and skulduggery to come.

Go Get Em Cox

Gee wiz Ollie, I guess if the SEC was more aggressive a few years ago this might not have happened. After all the fundamentals are so stellar. Schmucks.

Just Boring

Just uninspiring and dull. Just taking it one day at a time and waiting for what the market does next. I covered GRMN for about 5 points. Just a beauty. I think BLK will be a setup for tomorrow as it went up on the nonsense WM euphoria today. I'm still short MOO and AA. See you tomorrow morning.