Financial Pukefest

It continues unabated. I remain long SKF and FXP (triple lindy China short).

If you are trading Ambac (ABK) and Thornburg Mortgage (TMA) or any low grade financial stock these days, you are a sucker. The worst thing that could happen is you catch a bottom. You may just think you know what you are doing, but that will just cost you more the next time.