Well, its Sunday again, leading up to my favorite day of the week, Monday, when the trading week is new, and I generally like to give other market participents a lot of money. I am hoping not to repeat last weeks abismal Monday, which was the only blemish on an otherwise good week.
I have read reference to this story about KIM on a few blogs so I will link to it because I traded the stock on Friday, and took notice of the massive volume and strange price action. I shorted it on the open assuming it would eventually trade down to the offer price of $7.10, however, buy support at the $8 level was insurmountable. I don't know if any thing is fishy, but I still think KIM is a stinker.
Looks like the IBM for JAVA for deal has hit a snag.
It looks like HSBC executives are using the recent market run up to raise capital via dilluting the hell of current shareholders. I am sure all of the U.S. banks will soon do another round.
I really wanted to short the market over the weekend into the strength at the close and seemingly low volume in most names, but I don't really trust the market right now. It seems a lot of people really beleive things are starting to turn around, and I can't buy in to that. I also realize I am not nearly big enough to fight the crowd. So, I closed out my FAZ call spread for a $.55 loser and only initiated a long put position in ZLC. See you Monday.
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