I know it's early in the day, but from we stand right now, the markets are essentially unchanged for the entire week.
Despite the markets being more or less even, can you imagine the amounts of wealth just obliterated on the both the long and short sides this week?
Something I am happy to see will be the liquidations and failures of some hedge funds.Think of all the hedge funds that deleveraged on the way down selling off all their commodities and loading up on shorting financials. Yesterday and today would just kill them with the rules change. I bet a lot of those guys go out of business next week or sooner.
Make sure your “print screen” the CNBC.com stuff about what the "experts " are saying to do. I have been printing their finanical advice from their website all week. On Tuesday their recommendation at the bottom of the screen in terms of where to put your money now was hillarious. Keep the newspapers from this week, make a “playbook” to show your clients next time around. You’ll make more money off that stuff over the next 20 years than all the scattergrams, hypos, and stock reports in the world. CNBC…other than S&P futures info and Becky Quick they’re a complete waste of time.