So, our great country is in the midst of the greatest bailout in history, and CNBC has a ” breaking news” alert to report on Tom Brady’s injury report. You honestly can’t make this stuff up. I made a concerted effort to “twitter” some plays today and they all worked, a few to a lesser degree but some, to a very nice degree. I’m new to all this and am the first one to admit that am technically challenged but I hope it helps give some colour as to how I see this market. Over the next few months the site will change to a phenomenally awesome site, but in the meantime this is ” all I got.”
I thought I would spend the day watching the financials, but then the commodity sector rolled over again, and I just stayed short there all day. SMN long was a huge winner from the open, and I shorted UYG at $25 at the open, about twenty cents off the high of the day. Yahoo shows a 25.03 high print but I think I saw 25.20 on my platform.
So, what do you think? I think this is all bull doody. The financials opened with strength and then for a while, looked like they would totally roll over until they gathered strength the last 45 minutes. Will the Fed be there for Ford and GM when there time comes. How about POT when it goes back to $10? I should find all the bad financials, buy the preferred and short the common. Hey, not a bad idea.
As we neared the close I noticed some gut wrenching action and some charts that look pitiful I will try to post them in a little while. I’m actually proud of myself for making a lot of money today being short the strongest sector in the market. Really, UYG opened up 13%- you have to short that. Gotta love what we do.
P.S My “UPSIDE READS” ( book list) over to the right is now approaching laughable levels. It works with Firefox, but I guess nothing else. Although Al Gore called, the guy who invented the internet, and wanted know why I didn’t have any global warming books posted.