Thursday, September 25, 2008
So Washington Wants to Solve a Problem.
I would suggest that the lawmakers in Washington have a look at the above 2 charts of Washington Mutual and Wachovia. It may cause them to think twice about blowing $700 billion on absolute garbage paper under the guise of saving us all.
I would also suggest that if they think they have a problem now, they had better hope the above charts are completely and utterly false, for the move now is to shore up the FDIC fund here and now. You want to talk about an issue main street cares about ! I am not an accountant but from what Ms. Blair over at the FDIC has been saying as of late, things are not so rosy over there. Some have suggested that a failure of an institution like WAMU would, shall I say, seriously impair the FDIC's insurance account.
The charts above should worry Ms. Blair and the intellectuals in Washington for they worry me a great deal.
Good speculating to you all and never forget that "an investor is a speculator who made a mistake and will not admit it".
Long 2 units of Ultrashort S&P ticker SDS @ 61.75 stop at $57.69
Long 2 units of Ultrashort Dow ticker DXD @ $57.85 stop at $53.79
Long 1 unit of US Natural Gas Fund ticker UNG @ $ 35.70 stop at $31.89
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 Salesforce.com ticker CRM @ $56.05 stop at $60.62
Long 2 units Hecla Mining ticker HL @ $5.20 stop at $3.89