Our second trade of the 2008 Project MERCEDES is RIMM, initiated early afternoon today. More details will be posted only after we close the trade.
Markets are sharply lower today even after supportive statements yesterday from the Fed. Wall Street slump of today revives serious recession fears and are as a result of AmEx profit warning and potential Merrill Lynch writedowns.
2008 has been a rocky start for an election year and volatility is high, giving us wide swings.
Let us enjoy the rocky ride and make the best of swings.
Harry
