Thursday, September 4, 2008
Bank of America News
Bank of America news is not good. There is going to be heavy investigation into this and possible lawsuits from investors through BAC.
Bank of America
The New York attorney General has subpoena 8 Bank of America executives in Auction Rate security Probe.
Again dont trust the big guys.
They are all scumbags
MARKETJEDI
Again dont trust the big guys.
They are all scumbags
MARKETJEDI
Rumors
Rumors are mounting after the market close that some huge hedge funds are in trouble and are trying to unwind positions as they are closing. Another problem is the banks in Europe are saying their housing debt problems are more problematic than they originally thought.
Lets see what happens in the next few sessions. I think we are just at the bringing of the bad news, Bear Sterns was the warning shot in the sky and now the real unraveling will begin soon.
Commodities are cracked and tech looks like it is just starting to roll over. There will be no where to hide soon and if you dont want to play on the short side I am sorry to say you are just foolish.
The bump up in the bank stocks was just that a bump. I think they will be in a world of hurt soon very soon. We haven't seen anything yet.
MARKETJEDI
Lets see what happens in the next few sessions. I think we are just at the bringing of the bad news, Bear Sterns was the warning shot in the sky and now the real unraveling will begin soon.
Commodities are cracked and tech looks like it is just starting to roll over. There will be no where to hide soon and if you dont want to play on the short side I am sorry to say you are just foolish.
The bump up in the bank stocks was just that a bump. I think they will be in a world of hurt soon very soon. We haven't seen anything yet.
MARKETJEDI
Job Numbers- Tomorrow
Tomorrow should be exciting!!! 8:30 we have the job numbers and traders were already selling today before the numbers. We are short term oversold here so be careful but I would love to see a wash out here so we can get a decent bounce to reshort again. One thing to note here is everyone is watching the July lows. I believe we will hit them again, the DOW should hit it first then the S&P, then the Russell.
Russell if we bounce 750 area once again should be heavy resistance. I think we will see DOW 10600 here soon but who knows!
Today was great for me as I was long the ultrashort shares of TWM and SKF but I messed up some futures trading adding to a losing trade and then got stopped out. Always follow the rules but I was just being a knucklehead.
Well I will be posting 8:30 tomorrow.
OH- How you like RIMM SHORT??????
ONLY WINNERS HERE!!!!!!!!!!!!!!!
MARKETJEDI
Russell if we bounce 750 area once again should be heavy resistance. I think we will see DOW 10600 here soon but who knows!
Today was great for me as I was long the ultrashort shares of TWM and SKF but I messed up some futures trading adding to a losing trade and then got stopped out. Always follow the rules but I was just being a knucklehead.
Well I will be posting 8:30 tomorrow.
OH- How you like RIMM SHORT??????
ONLY WINNERS HERE!!!!!!!!!!!!!!!
MARKETJEDI
TRADE UPDATE: RIMM puts
That was fast money. they are now bidding $13.10 on them. we bought yesterday at $9.10
ONLY WINNERS HERE !!!!!!!!!!!!!!!!!!!!!!!
ONLY WINNERS HERE !!!!!!!!!!!!!!!!!!!!!!!
TRADE UPDATE: RIMM puts
Bought yesterday @ 9.20 they are currently $12.60. Lets see if the stock can break that magic $105
Selling again
Seem like the traders are back from the holidays in a selling mood.
S&P broke important 1262 level and RUSSELL looking to break 725, two critical levels
S&P broke important 1262 level and RUSSELL looking to break 725, two critical levels
Subscribe to:
Posts (Atom)
