Thursday, March 19, 2009
Trades - March 19th, 2009
All I did today was buy some more cheap GE puts. I bought March 10s for .05.
Remember I've got a bunch of March 9 puts as well. My account could really use a *down a buck* day in GE tomorrow (puts expire then).
I admit that when I got long GE a couple of weeks ago I hadn't researched the *news* on it a bit. Since then I have - and I've been underwhelmed. In other words, I think the stock could be in trouble, again. General Electric was a huge player in overseas real estate and they are pretty leveraged to consumer finance and global industry. I expect nothing short of horrific performance in those sectors for the foreseeable future. The New York Slimes has an article today on the mess.
More than half of my profits last year came from shorting banks.
This year it'd be nice if we had a replay, but realistically I'm probably going to have to find new whipping boys.