Wednesday, May 13, 2009

I'm an Idiot

But that's not going to keep me from following my gut here. It tells me the rally is over. First of all, the Stress Tests were an almost guaranteed generator of positive news until they came out. Now where's the positive news going to come from? Second, the market is no longer ignoring bad news.

I feel like an idiot shorting COF at $24 after buying it at $30. But I did anyway. I have to move fast here.

Short 100 (10% position) COF @ $23.89.

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