Who Dunnit?

Discussion in 'Trading' started by mgookin, Sep 30, 2008.

  1. Here's how I saw the day play out

    Sunday night I go long JPY to close the gap to around 9500 then go short. I reverse my short at 9423. It's giving me lots of pleasure throughout the morning and into the House debate. I tuned in CSpan to watch the debate and the vote. As soon as I see it's mathematically impossible for this vote to pass, I tripple up on my JPY longs. Nothing happens. I can only guess the trading world is watching CNBC who is probably on commercial break or airing some idiots arguing whereas nobody can hear anything (isn't that what they always do?). Finally we get good action in the JPY and I'm off to the races in my former position x 4. I tune in CNBC. Then finally they say "The vote did not pass" and we get some more pleasure out of the JPY. Then things start moving backwards (as expected in market movement). Not knowing how far this market will come back, I go flat and take the money and run. We're happy. Looks like the market is going to get back some of the downside movement and go higher.

    Then some brainiac at CNBC says "If the market closes up, then Congress is going to think they did the right thing." Immediately after they say that the markets capitulate down again.

    Who thinks the greedy ass investment banks took this market out in their selfish interest in attempt to persuade Congress to work harder at getting them $700 BILLION USD at the taxpayer's expense?

    I think it's a real possibility. More Hank Paulson corruption; him and his butt buddies.

    Don't forget Paulson gets an "auto-pardon" if this bill passes; it absolves him of all wrongdoings on Wall Street. No bill = Hanky Panky has to answer for his sins.
  2. W4rl0ck


    Oh, yeah. This bailout thing is a huge wealth transfer scheme.