introduction

I've started this blog because there are numerous trading opportunities out there in this downtrodden marketplace. The current 5 day slide actually helps this cause. I plan on posting trades with real numbers and order levels, thus quantifying performance.
Over the weekend equity futures rebounded from losses following a Wall Street Journal online post that the government was considering increasing its stake in Citi
This created a nice short term selling opportunity. And by short term I'm talking about closing out before you take the 7 train to Naples outside Grand Central.
Yes I am a banker forced to commute from my wonderful upper west air commode across the filthty East River
To Queens!


Regardless I like buying selloffs for very short periods. I am one of the biggest proponents of leveraged short etfs FAZ and EEV have been kind to me.

Right now I like FAS. 3x leveraged long financials. For how long? Let's just say I'm banking on Geithner not duct taping a main frame leak Twice in February. His February 10th delivery caused the latest selloff. This time around I say he focuses on toxic asset management.
Financials get a bear market bounce before resuming their slide.

I've bought into a rising market in this crisis and quickly was taken out back.

Buy 1000 FAS @ 4.73
stop out at 3.92

Buy 1000 UCO @ 6.505
Stop at 5.77

This long play on crude oil goes hand in hand with financials. These are likely to fail or not together. Best case scenario is exiting voluntarily by Thursday evening before Fridays GDP report adds unnecessary risk.

As always - think happy thoughts

TM