Crazy Daze

What a day. Hope everybody survived. I was, wait….. I just had to turn Cramer off. OK, I’m back. I was short MS, GS and UYG pre open and took that wonderful trade for a huge ride until I got long after John Mack from Morgan started throwing a hissy fit that the reason his stock was down was because of the shorts. No shit Sherlock. I guess John was never shorted a stock in an industry that was imploding by the nanosecond. Give me a break. As if he and all the others aren’t to blame for the credit default swap mess that helped push the stock to new lows. Hey, it’s an illiquid asset class, what can I tell you.

It did however get me long the financials because in a small way, at that point in time, the rhetoric was “poor me” lets get the shorts. Well guess what? It worked. Goldman ran, and so did Morgan. Everybody loves an underdog or a cute little abused puppy and it was game on. It didn’t last long but I caught a beautiful trade from the long side. After being short GS all day I actually caught GS long at $99, something to tell my kids before they laugh at me for not waiting for $75.

So, right or wrong I got long UYG and MS and took them both home. Yes, I took a financial home on the long side. I twittered it around 3:40 that they were talking. CNBC reported the same thing later. I may get my neck snapped off, but I have a ridiculous cushion, so why not? I’ll stop it at the open if I don’t get any follow through, but I will tell you, even I got tired off shorting the financials today, Enough might be enough—- for now.

Hank Greenberg seems like a nice guy, he fought for our country and started AIG from a small office to an empire, but he and what army are going to take over AIG? I guess I never lost $20 billion in a week.

Take a look at the VIX. We either crash tomorrow, or go up.

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