Today was another sad day for the bulls as the markets clearly resumed their fast downtrend taking out the recent lows. Here are the intraday charts for future reference. Congrats to those who took my advice on the AHM puts, the stock closed around 1$ today from around 18$ just a month ago when I mentioned it. In fact, the collapse of this mortgage company was part of the reason why the market fell so hard this afternoon. More on that here. Now is the time to take profits if you have not. My new favorite short is DECK.
Tuesday, July 31, 2007
Deat Cat Bounce Over.
Today was another sad day for the bulls as the markets clearly resumed their fast downtrend taking out the recent lows. Here are the intraday charts for future reference. Congrats to those who took my advice on the AHM puts, the stock closed around 1$ today from around 18$ just a month ago when I mentioned it. In fact, the collapse of this mortgage company was part of the reason why the market fell so hard this afternoon. More on that here. Now is the time to take profits if you have not. My new favorite short is DECK.
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