http://www.stockrake.com

Being long the indexes. RUT in the 2x funds dropped over 6% and the NDX dropped nearly 5%. UGH! Things were looking so good there for awhile. I still think this is the end of a downtrend and not the start of new leg down. Market wanted 50 on the discount.

Fast Money. Tonight had to have been the shittiest episode they have ever produced.

First we saw the exciting interview with Senator Hillary Clinton and Warren Buffett, then we were blessed with another first on CNBC spectacular interview with brand new Citigroup CEO Vikrham Pandit (this is Fast Money?), and finally if the interviews didn’t get your underpants sizzling, we got a way too long tease for Suze Orman’s special tonight at 9. I almost hawked up the two English Muffins I ate for dinner. The only content a trader could possibly be interested in were the first 3 minutes. Tonight Fast Money was a more boring version of Power Lunch, Street Signs, and Squawk Box combined.

Actually the late breaking news from an unnamed source at the Fed told Steve Leisman that they are working on alternative methods of dealing with the credit crunch and were concerned with todays market response. Hmmm. Sweet leak Fed source – I know you’re trying to help my end of the downtrend theory.

Related Posts