Friday, September 19, 2008

Quick Update

I am in lovely Lake City Colorado on vacation with family. I am staying abreast of market goings on. You just cannot make up what is transpiring in the capital markets, if they can still be called that. This ignorance and pollyanic hopes of our elected and appointed officials is staggering in its enormity.

I would like to go into a detailed rant on this but I am on vacation and there is plenty of excellent commentary on current delusional market interference by our government. Mish's site, along with Mike Panzner echo my sentiments pretty closely.

Please do not get fooled by this, it will only make things much worse. Remember my post The D-word? This type of intervention, I hate to say, practically assures it.

Good speculating to you all and never forget that "an investor is a speculator who made a mistake and will not admit it".

Open Positions:
Short 1 unit Int'l Bus Machines ticker IBM @ $129.05 stop at $126.36
Short 2 units of Apple ticker AAPL @ $178.05 stop at $177.76
Short 2 units ticker CRM @ $56.05 stop at $60.62
Long 2 units Hecla Mining ticker HL @ $5.20 stop at $3,89

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