Diary of a mayfly day trader

Wait! I was wrong! The Dow is up 32 points (09:42 EST)! Buy, buy! We've turned the corner! I am renaming this blog Bullwatch!

Oh no, only 14 points now (09:44 EST). Hold. Or maybe sell - over 50% of gains lost in only TWO MINUTES, goodness knows what could happen in a whole hour. Yes, sell! Sell!

Gosh, this is hard. Think I'll watch the TV news, they know what's going on.

UPDATE

OMG, down 32.42 (10:13 EST)!! In only 43 minutes! Over a 7-hour day that means 633.32 off the Dow!!

No, make that "!!!"

And there's another two days to go!!! !!! !!!

However could Mouton de Rothschild stand the tension?!!??

A note to newsreaders from the Pronunciation Unit

Say "new". Say "clear". Now, say "nuclear".

Just wondering

Why does having a ladder on your roof make you drive badly?

Paulson gets super-rich on short-selling

It's an ill wind... No relation to Hank, I suppose.

Komedy Korner

Harry Hutton points us to a sarcastic site that invites you to add your own bad assets to the proposed $700 billion bankers' buyout. Currently they're up to $415 billion. It's amazing what you've got in your attic and garage.

Bear market rally blues

Dow 18 Sept: 11,019.69
Dow 19 Sept: 11,388.44
Dow 22 Sept: 11,015.69
Dow 23 Sept: 10,854.17

Inspired by Nick Drew's bardic effusions, I offer a pastiche of Lonnie Donegan:

Does your equity lose its value
On the market overnight?
If your broker says don’t do it
Do you buy loads more in spite?
Can you hedge it with short selling?
Can you get the timing right?
Does your equity lose its value
On the market overnight?

Wall Street is waking up

The Dow has just dropped to 4 points below where it closed last Thursday; the 368-point sigh of relief it gave on Friday has been replaced by slightly sharper take of breath. It seems the equity traders are beginning to understand the details of the toxic buyout "solution". The rest of this week should be interesting.