Tuesday, February 27, 2007

 

Ready to Get Shot?

Fuck, this is going to suck.

In case you haven't noticed, China fucked themselves last night, with its "exchange" losing 9% in one session. Now, as we speak, the European fuckers are getting poleaxed to the tune of 2% plus.

The way it looks now, I suspect we will lose more than 1.5%-- right away. And, maybe, if we are lucky, we can finally lose 2% in a single day--effectively shutting up all the assholes who have been clamoring for it.

Bottom line: If you are long the market, like me, you are completely screwed. The only thing left to do is take down some quick shorts or cut some losses--prior to the ax coming down on your neck.

If you are short: enjoy.

Here are some quick ways to hedge:

SMN: Double inverse Basic Materials
SZK: Double inverse Consumer Goods
SCC: Double inverse Consumer Services
SKF: Double inverse Financials
RXD: Double inverse Health Care
SIJ: Double inverse Industrials
DUG: Double inverse Oil & Gas
SRS: Double inverse Real Estate
SSG: Double inverse Semiconductors
REW: Double inverse Technology
SDP: Double inverse Utilities
QID: Double inverse NASDAQ

Comments:
Look for a daytrade after 10:00 into AMGN,DNA,ABX,NEM,BBH,SMH. Don't stay around too long though.
 
Someone just put a shotgun to my teeth and unleashed at the open.
 
kinda ironic, huh? MRVL is on fire... on a day like today ;)

I don't think China can quite call a top in US markets just yet. But the DJI has today just slipped (ok, plummeted) below its 50 day average for the first time since global cooling killed all the sabre tooth tigers.
 
Frankly, I was expecting more.
 
I finally got one. I put a market order in ten minutes ago for TXN and they gave it to me for .20 less than they should have. The spread was all over the place. I dumped it 5 seconds later. Now another 2,000 trades like that and we'll be eeven for screwing me over the years.
 
Anyone shorting FXI?
 
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