I'm out

[Supercilious]

This year has been very good for me.

Bear Stearns good

Fannie -great

Lehman - decent (I tried to pull an down-up ride but didn't work because Fuld got too emotional or he is a rare case of Wall Street banker with a spine. Maybe he decided to do the right thing by refusing the staged ceremonial sacrifice and quartering . Only 38% return on this one)

AIG - magnificent! (the ride went great almost exactly as planned)

(I was also short on Merill at $24. Fortunately nobody believes the broadcasts from the Financial Engineering Department. I escaped even with a small profit, but I still have a soprano voice.)

I still believe that MER will fail, but I'm not going to pursue it anymore. I love the smell of napalm in the morning more than I love the returns from high risk trading. But what happens now on Wall Street has nothing to do with risk and reward.

IMHO the game is just to crooked and the fundamentals of the market are solely based the plans concocted behind closed doors between Fed and a close knit group of privileged/favourites. It reminds more and more of Ton Soprano's sanitation company.

That's not a free and impartial market. Today at the end of the trading session I got completely out of financials.

[metalman]

Re: I'm out

This year has been very good for me.

Bear Stearns good

Fannie -great

Lehman - decent (I tried to pull an down-up ride but didn't work because Fuld got too emotional or he is a rare case of Wall Street banker with a spine. Maybe he decided to do the right thing by refusing the staged ceremonial sacrifice and quartering . Only 38% return on this one)

AIG - magnificent! (the ride went great almost exactly as planned)

(I was also short on Merill at $24. Fortunately nobody believes the broadcasts from the Financial Engineering Department. I escaped even with a small profit, but I still have a soprano voice.)

I still believe that MER will fail, but I'm not going to pursue it anymore. I love the smell of napalm in the morning more than I love the returns from high risk trading. But what happens now on Wall Street has nothing to do with risk and reward.

IMHO the game is just to crooked and the fundamentals of the market are solely based the plans concocted behind closed doors between Fed and a close knit group of privileged/favourites. It reminds more and more of Ton Soprano's sanitation company.

That's not a free and impartial market. Today at the end of the trading session I got completely out of financials.

hope the lesson didn't cost you more than 100 bucks. you're a critic of dollar ratchet and other theories explained in the area of itulip you can't access. how you came to these opinions without reading the analysis is a mystery to me.

one of the pieces of advice ej gave back in dec. when he called the bear market this year is don't try to short specific financial stocks because the risk of getting on the wrong side of a bailout is too high. short etf or buy neg index funds but do NOT attempt to short specific financial stocks.

but then you knew that.

[Supercilious]

Re: I'm out

hope the lesson didn't cost you more than 100 bucks. you're a critic of dollar ratchet and other theories explained in the area of itulip you can't access. how you came to these opinions without reading the analysis is a mystery to me.

For example I came to the conclusion that there is an oil bubble long before I came on iTulip.

The Fed's Hammer Drill theory came to me about a year ago when I was trying to talk some sense into a friend of mine who is in the conspiracy theory camp. (I still believe that WTC7 was not brought down by controlled demolitions, there was no cruise missile launched form an UFO that hit the Pentagon and GWB is not a reptilian alien overlord killing all humans, although I have to acknowledge that at least some members of his administration are pretty slimy, but that's not because of alien DNA )

And about access, I'm not sure I'm in a hurry to do that after my opinions got the treatment of cosmetic censorship (changing the thread name for example).

By the way, is the official position of iTulip changed from the no-oil-bubble stance and no CFTC changing of regulations or looking the other way for the oil markets ?

one of the pieces of advice ej gave back in dec. when he called the bear market this year is don't try to short specific financial stocks because the risk of getting on the wrong side of a bailout is too high.

So far I did it pretty good four times in a row. Even the failed attempt riding Lehman was not so bad at 38% return. But, I agree that EJ's advice may be good for those who don't understand financials and don't know their limits. Because I know my limits I've decided today to stay out of financials at least until next year .

short etf or buy neg index funds but do NOT attempt to short specific financial stocks.

I have solid reservations about investing in any ETF or ETN. For myself I don't find that advice useful, but again it may be a good strategy for others.

Since I don't like to give actionable investment advice maybe I should keep my mouth shut and let those who are into this business to do it to the best of their abilities.