Now Reading
Intra-Day Update: Go market go!
176

Intra-Day Update: Go market go!

by The MoleOctober 3, 2008

UPDATE 10:56am EDT: Looks like we have a little pre-bailout rally at hand. Boy, if you ever wondered about the meaning of the aphorism ‘slope of hope’ – well, you can see it right at work here, no kidding. I have been laboring all evening and morning to pick out new victims. Some of them require some time for a good entry, but go ahead and pick your poison:

Tech: ABI CSCO DST ENER LEAP MCHP MIL WAT XLNX new favorites: ISRG BIDU GILD GOOG LLL

Industrial: FAST NCS

Energy/Oil: PBR

Agricultural: BG

BTW, expect a bailout vote to be followed up with a rate cut on the 10th or even before. Doesn’t make a difference technically however, as the ‘effective funds rate’ is currently set at…. wait for it… 0.67%. I’m NOT kidding – I have never seen it that low. Also, there is some monkey business going on with short term reverse repos – today the Feds took back $25Billion in treasuries from its primary dealers – $108 Billion were offered. I think they are still draining the swamp – not exactly sure what’s going on… Last time this happened we got some major Fed interventional on a silver platter. I still will short the heck out of everything with a symbol after the bailout announcement.

UPDATE 1:56pm EDT: Berk and I are backing up the truck.

UPDATE 3:50pm EDT: Not sure about you leeches, but Berk and I are banking some major coin today, and we’re still 75% in cash. Reports from the front would be appreciated.

Cheers!


About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
Enjoyed this post? Consider a small donation to keep those evil deeds coming!

BTC: 1MwMJifeBU3YziDoLLu8S54Vg4cbnJxvpL
BCH: qqxflhnr0jcfj4nejw75klmpcsfsp68exukcr0a29e
ETH: 0x9D0824b9553346df7EFB6B76DBAd1E2763bE6Ef1
LTC: LUuoD6sDWgbqSgnpo5hceYPnTD9MAvxi6c
PayPal: https://paypal.me/evilspeculator