Adios Free Markets…Mixed Feelings Today, But Tomorrow I will HATE IT!

  • Posted by
  • on September 19th, 2008

I have never woken up to bigger gains in my portfolio and they have never been less deserved.

If I had not taken the time to buy some stocks into the mess from the golf course yesterday and cover most of my shorts, this morning would make this one of the worst.

I would not have deserved that either.

One thing I have always preached on the blog, less so on Twitter, where I bang out more trading ideas and market thoughts is that shorting stocks is hard. I think it’s harder than any aspect of learning the market. It’s dangerous.

Let this morning be the only reminder you should EVER need.

This move was a gant, well timed (options expiry) payoff to the people in the most pain, crying the loudest. That is not freedom nor fair capital markets.

If you followed by Twittering you know my five largest positions the last few days became Apple, Google, Amazon, Gold, Russia and American Express. I wrote about them endlessly the last few days in bursts.

Now I must go and decide what to do. I will likely trim and than just watch the next few weeks. My edge is completely gone and the government is now in full control of your money. So sad.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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