Thursday, September 18, 2008

Buying Financials

In Finance 101, they always preach the Efficient Market hypotheses, but you just throw that theory into the toilet during times of panic. I’ve been day trading Goldman Sachs (Ticker: GS) and made some profitable trades. Today, it just got so ridiculous seeing Goldman, Morgan (Ticker: MS) and State Street (Ticker: STT) left out for dead. Sometimes, you just have to say screw it and just buy when there’s total panic. I loaded up on the Financial Spiders (Ticker: XLF) @ $17.39. I think today was a good retest of the lows for the financials.


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