Wednesday, May 12, 2010

They don't make it easy

We will probably be looking to get out of our short position. They are not making it easy on the long or short side. This thing may go either way. Gold is hitting new highs, proposed stike in Greece, Morgan Stanley may be investigated, blah blah blah- and the market is still holding strong (for now). We don't like 50-50 bets-not to mention going up against a market that has 4 top banks that just reported a quarter where not one of them had a losing day! I guess they were all on the same side of the trades. It makes it easier for them when the bad boys (Lehman and Bear Stearns) are out of their way. I can understand Goldman accomplishing such a feat; however, Bank of America and Citigroup? Hard to believe. They are normally on the losing side of trades. We are going to have to think this out. Either join them or get out of the way.