That I have my trading legs back? My RY short is working out magically and I expect to ride this fake accounting garbage stock down to $1 before I consider covering. I’m quite sure we will have a volatile move down, but there is no doubt RY gets bailed out before it’s all over. I’ve said this before and I’ll say it again, RY moves like a crack head at times. Making risk management the most important thing.(In all seriousness, I will be looking for a move to $47)
The market in general looks like shit, and I expect an extreme sell off Thursday. It will be completely unexpected, yet 100% deserved. I will be holding my RY short(providing it continues to act well), while watching for other stocks to detonate. I also have several long ideas, but they are on hold till the end of the world is once again averted, via ECB bailout.
UPDATE:Covered my RY short, +1% on that trade and I’m starting to see some trades setting up and would like to concentrate on some better opportunities.
