Tomorrow…Tomorrow…Panic?

  • Posted by
  • on September 14th, 2008

Unfortunately for me, I nibbled at some Amazon and Google the last few days.

It’s bad to be nibbling on ANY stock when financial bottomless pits, LIKE Puke Captain AIG, are begging for $40 billion from the Federal Reserve . We are pathetic.

Tomorrow will be…interesting.

I will be glued to Twitterific on my iPhone as I have meetings I can’t cancel and Stocktwits stream should keep me in the loop on the key headlines and movers.

I am not going to be doing anything different tomorrow as my stock allocations have been shrinking daily since January. In fact, I have not had this many shorts on in a while (COF, BBY, SKF (short financials), FXP (short China) and DECK).

I have been adding Gold the last few weeks by buying GLD as all my gold and silver stocks were being stopped out. I was writing last week that something had to give. Either gold was going to collapse to catch up with the stocks, or the stocks would have huge rallies. It looks like the stocks huge moves up on Friday were a bit of a weekend ‘Tell’. Gold is up large tonight as the futures sink.

I am as well positioned as I have ever been for a mini panic because I have been listening/watching the TAPE and PRICE, not the headlines and CNBC.

No matter, my portfolio will be hit.

I don’t think tomorrow is a day to do much. If you are on margin, get the fuck off it already. If you are not on margin, sit on your hands and throw a few jabs if you must.

Bank of America stepping up to buy Merrill Lynch sounds extremely wreckless to me, not smart. I hope I am wrong. You should hope I am wrong too.

Our leaders need to think, not panic. That’s not happening.

Our leaders need to make smart investments, not dumb ones. That’s not happening.

I am too small an investor to trade on the headlines of the last 8 months. You are too.

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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