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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Jurgis Bekepuris who wrote (32086)	9/19/2008 11:08:30 AM
From: Jurgis Bekepuris	Respond to of 78470

Another indicator of "shorting bubble" is that Value Investing Congress now boasts as the venue where David Einhorn discussed Lehman's problems last year. Apparently, this is THE success from the last year... As I said before, I have nothing against shorts, good luck to them. I would just caution people from going short now. Although the collapse of BSC, FNM, FRE, AIG, LEH made it very appealing... ;)

To: Jurgis Bekepuris who wrote (32086)	9/19/2008 3:26:23 PM
From: Spekulatius	Read Replies (1) \| Respond to of 78470

WFC - when it opened today at 44$+ I thought my short in WFC was my worst trade ever and this year this means quite a bit. but it wasn't, i closed this thing at a small profit - 30$. After a day like this, i think I should spent this money on beer alone. Having a great day today - my IRA is up almost 10% as we speak.

To: Jurgis Bekepuris who wrote (32086)	9/19/2008 11:46:22 PM
From: Spekulatius	Read Replies (1) \| Respond to of 78470

WFC - why not short it? It has runs up whilst everything else has been falling to pieces. they are heavily exposed to he CA market in credit cards, home equity and some loans have been reclassified as current, even though they are restructured. I do think they are better but not as much better as the market values them. I believe some players knew already about the new short sale rule yesterday as there was some weird trading in financial going on then which tempted me to enter the short position again before close. Of course I sort of felt trapped when the rule was announced but felt it was a matter of pride to close this one out with a profit as well. the bad thing about the WFC short was that it took my focus away from opportunities that could make some nice money, Some weird trades going on - I sold GR at 54.4$, TLP up over 30% - i got rid of that one as well. Oh well next week is going to be interesting as well I bet.