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Recently Closed Positions:
Current MPY: +9.3%
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Issue: 01, October 2008 (Today: WFC, DBA, SIL)
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Day Play:
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3-Day Play:
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Longer:
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Commentary:
The bailout plan is now stalled and you can bet we capitalized on the market swings but don't be fooled. The government is bound and determined to hold innocent tax payers responsible for these company's irresponsibility. Dark days are ahead, what will really hurt is how short lived any recovery will be.
WFC - Wells Fargo experienced an irrational sell off late in the day, if we can get in at 36.50, maybe premarket, it should be good for as much as 10% on the day. If the bailout passes maybe more? The catch with WFC is it is actually in great shape without the bailout. It has write downs but not like the other banks, so speculators may see the bailout as a negative for WFC. That would be absurd though as it would certainly still benefit especially if the bailout requires repayment.
DBA agriculture has now been beaten to the point of no brainer. Many analysts are now waving the agriculture flag again as well. For instance: The world still must eat. The futures have been green on DBA for the last 14 hours and it is at a 1/2% discount just now. If they stay green it is almost a guarantee of upward movement.
SIL is a good watch list symbol. It is quite volatile and should present some opportunities to attentive investors.
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Daily or Weekly BS!
No bailout. Yes, just the news, not the idea. Don't believe it, the BS bailout is still coming and BS saying it is not is still BS.
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