Intra-Day Update: IPI On Special Today
UPDATE 2:39pm EDT: We’re waiting for wee-bit of a drop to go long IPI – info is on the chart:
If you take this trade your toenails will fall off and you will lose your premium and the respect of your peers.
UPDATE 3:20pm EDT: Mark your calendars boys and girls – Berk and I just went bullish (for one weekend). Thus we decided to grab a small amount of DIA calls. The PPT is most likely going to get some kind of bailout deal this weekend, so just for once we trade along with the baldies. Let’s see how that works out.
UPDATE 5:42pm EDT: Great article I encourage you to read. Basically, in a nutshell – government bailouts and other types of manipulation do not prevent or stem economic contraction. Incidentally, they are also priced into Elliott Wave Theory I would like to add – in the end market forces always always prevail. Don’t worry my wicket little evildoers – we will get our crash rather sooner than later.
UPDATE 9:57pm EDT: Failure Friday strikes again. This week’s (2nd) victim: Wachovia – a plan seems in the works to force the bank into a merger with Citigroup.