Archive for February, 2009

• Watching the Market and the Financials…Again
  UpsideTrader, February 27th, 2009 at 7:57 am, Comments: 0

  So Citi is back under $2 and $BAC is back under $5. Didn’t last long did it? Oh where are the halcyon days when our biggest banks sold for more than $5? Seems like yesterday.
  My own personal opinion here is that we will become unhinged as the wheels fall off the train. I believe 5000 [...]

• Healthcare Needs a Medic
  UpsideTrader, February 26th, 2009 at 6:12 pm, Comments: 0

  Today we learned of a $1 trillion tax increase and a $650 billion down payment to overhaul the health care system. The health care stocks didn’t like what they heard so they sold off with reckless abandon. Here are some names to keep an eye on in the coming days and weeks ahead. Some will [...]

• Just—Stop——Talking
  UpsideTrader, February 25th, 2009 at 8:11 pm, Comments: 0

  Under the stewardship of famous R.I.N.O (Republican in name only) George W., I would constantly suggest that he and his entire administration just shut up, zip it, shut your pie hole. I called it the “pundit podium effect”, meaning every time they pontificated rhetoric from the podium, the market would collapse. Bush and Paulson were [...]

• Follow Through or Failure?
  UpsideTrader, February 25th, 2009 at 7:20 am, Comments: 0

  There is Larry Summers literally falling asleep at Obama’s economic summit. About 130 lawmakers and think-tankers were in attendance. Go get em’ tiger. He must be working 27/7 because I haven’t seen him since his appointment.
  Fourth quarter losses at Merrill were about $15.8 billion, about $500 million higher than expected, “forcing” BAC to take an [...]

• Big Whoop
  UpsideTrader, February 24th, 2009 at 5:39 pm, Comments: 0

  The market bounced nicely off the lows today and you will see from the chart that it had about 8 consecutive days of lower lows, so a pop was inevitable. I had a couple of early morning miscues, but made up for it with a couple of nice shorts in APOL and a long in [...]

• More of the Same
  UpsideTrader, February 24th, 2009 at 9:05 am, Comments: 0

  AIG received bozillions from you and me, yet the chatter of an imminent bankruptcy made the rounds yesterday on a report that they have found a way to lose $60 billion. They now have hat in hand for “more” money. Let it die.
  JPM, the “bluest” of blue chip banks practically eliminated their dividend yesterday. You [...]

• Laugh Out Loud
  UpsideTrader, February 23rd, 2009 at 7:20 am, Comments: 0

  I don’t know what the bigger tragedy was that occurred last night, Mickey Rourke getting jipped at the Oscars or the market trading up on a move toward full blown nationalization. The only difference in my opinion is that Mickey will be back, but the financials won’t.
  I’m getting ready for max pain as the”free” markets [...]

• Freaky Friday
  UpsideTrader, February 19th, 2009 at 10:04 pm, Comments: 0

  So Geithner, Paulson and Bernanke walk into a bar and….sorry I digress.
  World markets are lower and U.K. repossessions have climbed to a 12 year high as banks seize 40,000 properties. Not a surprise, and we knew it was coming, but the headline damage is what we have to worry about. Japan’s Topix is at the [...]

• So Many Shorts So Little Time
  UpsideTrader, February 19th, 2009 at 7:56 pm, Comments: 0

  I have a million of em’, but always watch for an oversold rally.

• Staring Into the Abyss
  UpsideTrader, February 19th, 2009 at 5:24 pm, Comments: 0

  In case you missed it, the video above is Rick Santelli from CNBC voicing his opinion on TARP, the housing initiative and the stimulus package. Evidently the market mirrored his passion today as they pretty much sold everything they could. Energy showed some strength, but the toxic beast known as the financials, fell of a [...]