A few thoughts today. I still like the FAZ trade going forward. Financials are going to suck again sometime....otherwise there wouldn't still be strong consideration of more action by the the Fed of a QE3. Also, excitement of Buffet's investment of BAC is still lingering...once that wears off and then investors start getting hurt with the price dropping it will get ugly again. One of the contributers at SlopeofHope brought up the topic of other Buffet buys that have been bad for the common stock investor (I'm too lazy to find the link from last week). But basically, he bought in and "rescued" GE and GS a few years back and made huge money on the deal...largely from the sweet deal that includes his preferred dividends of 10%. But anyone holding the common stock is in the red right now (and Buffet's own calls in GS common stock are just barely in the green above his $115 exercise price). So he might have bailed out the companies, but it hasn't been a windfall for investors. So no, you can't invest like Warren Buffet.
Other than that, we have a rally going today and historically the last day of August and leading into the Labor day weekend is positive. But now that everyone is getting comfortable with stock market going up....i just when it seems to do what you don't expect it to do.
I've been up since 5:30am for morning practice. Instead of just an easy run, one of the athletes needed to get the afternoon workout done since they have class during regular practice time, so already 10miles in the bank with a workout, and get to come back and do it again in 6 hours. In the meantime, I'm going to check to see if any of my brokers will allow me to short LNKD now. I think this stock is a joke, and next time this thing enters the 90's, i'm shorting what I can (currently 86.55).
*note: Chart updates automatically, so price may change from posting.**
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