Dec

19

Covered BSC and LEH shorts

December 19, 2007 | Leave a Comment

This morning I decided to cover my shorts in BSC at $93.25 and LEH at $62.52. Frankly, this is a defensive move, as I have big positions in the brokerage sector (namely MS) that are going against me at the moment. I don’t feel that covering MS would be advantageous at current prices, so covering the other brokers effectively cuts some of my exposure for the sector.

Dec

17

Adding to MS short, going short BSC

December 17, 2007 | Leave a Comment

This morning I decided to increase my short by about 80% in Morgan Stanley, shorting the shares at $50.45 this morning. Additonally, I entered into a new short position in BSC, shorting the stock at $95.65. I said last week that I believe there are still skeletons out there on Wall Street, and that I could more or less short the brokers with immunity after Lehman failed to bounce despite better than expected earnings. With earnings out […]

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