Wednesday, October 13, 2010

Bookkeeping: Stopped Out of Prudential Financial (PRU) Short

One by one they fall.... only 1 more to go after Prudential Financial (PRU) just stopped out.

PRU was shorted below multiple moving averages just under $54.  My stop loss was $55.10 which triggered - so I'll take my modest 2% loss and drink Kool Aid from the observation deck.

It almost feels like fall 2007 again - Chinese small caps are going ballistic, commodities are non stop, "subprime the entire financial world is contained", and all is well on mother Earth because the Federal Reserve is going to save us by slashing interest rates..... errr.... sorry, some things do change.

Strangely, there is no significant earning report tonight after the bell... tomorrow we have Google and then Friday morning pre market QE reports.   QE is the holding company for the Federal Reserve - limitless balance sheet, the best company on earth.  I am preparing to be surprised by Bernanke's outlining QE for us Friday.... practicing different "surprised" faces.

Long marveling at spectacle


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