just minutes after the fed announcement of a 1/4 point reduction in short-term interest rates, the market crumbles.
looks like there was a full 1/2 priced in more than i realized. Hedges are already kicking into the Green. I’m still very bearish on the financial sector, etfc’s recent downgrade by S&P to ‘Sell’ and WaMu’s layoff, dividend reduction, and operating arm closures really affirms this.
right now: shorting financials (via SKF), puts on ETFC & BIDU
did someone hit the panic button?
1 response so far ↓
1 Mr K // Dec 12, 2007 at 7:48 am
Hope you aren’t losing your A$$ today.
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