Be Careful
Be Careful
Quick update: It seems that my charts yesterday were spot on and my emotions were wrong – big surprise. Nice drop today, but I suggest to hedge yourself as soon as we get the hint of a counter rally. This can’t go on forever obviously – not that don’t want it to. Remember – it’s expiration week – nasty things tend to happen – even to evil speculators like us.
BTW, in case you haven’t heard: The SEC will reinstate a new short sale limitation effective tomorrow – this time for all stocks:
The U.S. Securities and Exchange Commission stiffened rules against manipulative short-selling after a market rout pushed American International Group Inc. to the brink of collapse and triggered Lehman Brothers Holdings Inc.‘s bankruptcy.
YES, our evil plan worked, as it was Berk, myself and a small group of depraved henchmen who single-handedly brought those two organizations to its very knees. I mean, come on! This is getting ridiculous.
Happy trading bears – sell the rips – not the dips. I know, it’s tempting. Keep it together and keep it clean.
