Profits

Mon Jun 9, 2008 3:25pm EST 13

In this environment I don’t feel comfortable holding positions overnight. I just booked massive profits in my short plays (highlighted on post below), and also booked profits in a few [[IPI]] calls. I am strictly in day trader mode.

Today was a monster day for The Cajun, courtesy of [[PCLN]] & [[IPI]]

Note: Still have my full position short [[CHL]]

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Shorts

Mon Jun 9, 2008 9:34am EST 14

I shorted more [[CHL]] [[MELI]], [[PCLN]], & [[GNK]]

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IPI: Intrepid Potash

Mon Jun 9, 2008 9:09am EST 1

A stock that I’m still bullish on, is flying in premarkt thanks to an upgrade to [[POT]]. IPI will see $60 this week, if not today.

Note: I’m happy to see the futures up, I will use the strength to short the market.

Disclosure: long call options in IPI

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Thoughts Going Forward

Mon Jun 9, 2008 1:22am EST 8

Starting with today’s date June 09, 2008, I am officially bearish on the world markets. It’s time to watch the whole world crumble to it’s knees. Going forward, I focus my attention on short ideas and will buy large quantities of puts in the near future.

Solar looks ready to crumble, and I foresee the group trading down tremendously in the coming weeks. The financials still have room to fall, and retail is dead with gas nearing 5 dollars a gallon.

Everybody has spent their stimulus money– it is gone, and now the tank is on empty. This drop we are about to face in the worlds market will be of “epic proportion.” There will be no bottom this time.

Top Short @ the moment: [[PCLN]] with a break below trendline.