An irreverent look at Wall Street
Are you moving to the dark side?
Not in stocks--but I'm short a fair amount of credit as a hedge, just because I think junk bond spreads are way too tightsomeone "needs" to get out reminds me of when we had the REFCO selloff which started at the end of sept to the first few weeks of oct in 2005--especially if you were long anything to do with oilI was long oil, and I was getting hit pretty good, and then I shorted Refco and then two days later it was toast, and I made up all my lossesDon't think that's not what the bears are doing here. They are pressing everything, because there is some distressed seller out thereand they want to make up there losses --they don't care how it's done--so we get this ugliness as they just pile onso we'll see what they have --but gosh my bearish friends were just so giddy I couldn't believe it--they just want everything to go to hell so they'll scorethe money show is down in Orlando--and boy are they talking up the gloom!
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