Saturday, August 4, 2007

This is the end, my only friend the end.

So this is what happens on Fridays. Market down all day and a massive dump into the close. My guess is next week the shorts get rammed on Friday. Remember, the market will trade to cause the most pain. Right now it is the bulls. Speaking of bulls and bears, it seems our friends at BSC are getting a lesson in risk management. The stock is now priced with a 20% decrease in earnings based on this CMO mess. They will be acquired before any talk of bankruptcy becomes real. I heard Cramer blew a gasket on TV the other day. Quoting the most important philosopher of the last century, What a maroon.

3 comments:

Keith Berger said...

the shorts get rammed on Friday

Sounds like Date Night!

muckdog said...

Or monday...

Incredible volatility....

Eric P. said...

Once I saw that BSC was making the rounds to the other IB's, got a whiff of a relief rally. Not this much relief. But once again, you had shorts to cover, and longs who chased.