Monday, June 30, 2008

Another short post

Typical last day for bad month, bad quoter, bad first half of the 2008.
Have completed my long calls positions for (XLF), (XHB), (QQQQ), some (LEH), some (JASO), long puts (OIH) and bought lots of (PPH) for IRA account ( I believe neglected/abused pharma is in the beginning of a major turn).
By the end of today, naturally, I was swearing to myself to never trade again, get some lame, but "normal" job and be like everybody - "a slave".
Always happens when you have a plan and stick with a plan, at least it was not bad enough to start writing an updated will :-)

Still, feels a little better after market close to see that most of beaten down to oblivion financials stocks are bidding up aftermaket, obviously on this news:

"Lehman Bros Started At Overweight By Morgan Stanley >LEH
Last update: 6/30/2008 5:15:14 PM
(MORE TO FOLLOW) Dow Jones Newswires
June 30, 2008 17:15 ET (21:15 GMT)"

Thanks MS - nice timing.
( Don't forget - MS said: " Oil will be $150 by July 4th" - read: "get the hell out before 4th of July")