I love bargain hunting in the stock market.... I love complete chaos and trainwrecks!!! The only thing I am thinking is whether I should jump in the short wagon and ride things down like everyone else is, or slowly start picking up some good buys on the stock market. I think we are a few months away from the absolute rock bottom, but I can never pick the exact bottom. I have done well in the past slowly scaling into some positions as they dropped heavily and then recovered. Some examples, from back in 03: AMR when it hit 1.25/share. ACF when it it 1.55/share. TSO when it 1.50/share. From 06: GM when it hit 18.35/share I think my daytrade is going to short GOOG at the open and ride it down 10 points and get out. Let's see if I am right, short GOOG at the open and back in after 10 point drop.
trouble today is that anyone who owns stocks at these troubled firms may be looking to close out all positions. this will cause severe downward pressure.
Good old fashioned long squeeze especially the greedy fucks on margin betting on BSC. I'm there to pick up the steaming hot carcass. The devil in me is happy these greedy pricks got their due. I'm just upset I didn't make money off their dumb asses.
I know I wish I had been following BSC this past year, its pretty obvious now (of course) looking at the stock headed for the cliff. Insiders dumping heavy too. On to the next big score. Anyone smell blood in the water?