Tuesday, February 27, 2007

MARKET MELT DOWN ?

What a truely disgusting day in China. Disgusting if you were long that is which thankfully I am not. Imagine if the S&P, Nasdaq and Dow all fell 9% in a single session. We'd probably see people jumping out of windows. Depending on how we close today I might take a dip in some QLD, SSO, DDM and MVV for a bounce tomorrow. Sold a small part of my QLD, DXD , MZZ and SDS today. Thinking of adding more to NYX, WFMI, PNRA and BWLD longs. My GS short has made my day. Down (up for me) over 4% on heavy volume. If Goldman breaks 200, the next stop is 180. I am looking for a bounce to 210 and maybe I will short some more.

2 comments:

65Trader said...

Hey IM,
It looks like you have some great insight on the markets. I am looking forward to reading the insights of a hedge fund manager. Thanks for publishing!!!

Also, would you mind enabling your feed so it will be easier for me to keep up with your blog?

IM said...

Thanks. Will do.