Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Tuesday, July 15, 2008

Libor is up

Overnight .10 from 2.20250 to 2.30875
I don't know what kind of gibberish they are talking about on power lunch, the turn in the financial was because the vix hit 30 and some people dumped some Puts. had nothing to do with the Announcement... we were well on a rally before then.
maybe we will make a higher low.

they were Very Oversold. Needed a correction.
I took this as a low risk entry on the skf.

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