9.24.2008

MIDDAY DELAY


Markets are lower as participants seem to be getting nervous waiting for the uncertainty regarding the bail out plan to go away.


Best sectors- solar, energy, homies, biotech and brokers while real estate, trannies, utils and financials lag.


NYSE- 560 net losers;

NAZ- 400 net losers;

NDX- 60 GREEN;

OEX- 45 GREEN;


VIX- FLAT at 36 level;


Ten year note- 3.78%;


EURO - moving up at 1.466;


Gold - haning in at $893;


Crude- flattish at $106+;


Not much going on except NAZ outperforming as IBM is the latest company deemed a financials and added to the "do not short" list.


Tom Friedman on why we spend a lot in Iraq;


And why is it such a big deal to invest/spend $700B here when we spend so much over there?



More fodder for McCain on why he should hate the NY Times;



Finally, Fuld and his stock sales;



I suspect the markets will move up nicely (shorting opportunity) once a deal gets done.

2 Comments:

Anonymous Anonymous said...

So your game plan is to buy before the announcement for a quicky long position and then sell it short after they move up! I smell a Smart fish here! :)

1:34 PM  
Blogger DAVID said...

yea - have some longs I want to unload and will dump them on a ramp up and will look to short something up there-

1:45 PM  

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