Bottom Fishing

The blogosphere is full of amateur traders convinced that we have just seen a major bottom and it is now up to, well, infinity. Personally, I would call it more of a weak bounce. I just added to my shorts. But we’ll see. Buy the dip mentality is fully intact, that’s for sure. The rest of the world? Nothing to do with the good ol’ US of A.

My big position is bonds, not the stock shorts which are much riskier. The 30-year auction was kind of weak, but T-bonds are about where they were before the auction, so it was pretty much a non-event whereas a stronger auction might have triggered a short squeeze. Oh well.

NLY is up almost 5% today so I guess someone read my blog. 🙂

Sure would like to see some nice trend moves. What’s new, Vladimir?

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