Monday, July 14, 2008

Do you feel like selling?

Do you want to line up all your long positions ( of course you have a lot of long positions - you've been told back in May by Fast Moneys, Mad Moneys, Kudlows of the world crooks that "easy money are been made on a short side" ) and hit "SELL ALL NOW and FU.. IT" button?
Of course you do, so do I, so everyone who is betting against the trend (down )

Is not it funny that 8PM Fast Money has been replaced by "Tighten your belts you wasteful financially illiterate proud for no good reason other than not knowing anything beside your neck of the woods Americans" show?
Sad, very sad - how we as a "once great nation" came to that point? Greedy corporations, incompetent government, not reading books, scared of bosses, wives and your own shadow?

I've been really busy lately and was not able to pay too much attention to the market, but at least I was able to get out of "idiotic FRE calls" trade at break even ( well, some small profit there) - not a good trade anyways.

(RKH) new low, (XLF) new low, (XHB) - held up? What is wrong with (XHB)??? Is it telling us something?

Crazy market...if it fall tomorrow morning I will add to (XLF) Aug/Sep calls position and will open some (RKH) ( no liquidity there, bummer) if no drop - I will just sit tight - I still go with my opinion that THIS WEEK is the bottom - and I am betting 50% of my trading account on it ( It is just we don't know how fast and vicious drops might get before the tide turns )

Try to have a good night sleep if you can ( I know I will not - I am long for few days now, no, not a good feeling, just like been 100% net short on May 30th )

P.S. I am just wondering - how long will it take to get "insured money" out of FDIC?

P.P.S. Almost forgot - bought plenty of (SPY) Sep126 calls today.