Today was not what I would call the best day for a short seller who likes to short over priced stocks. I watched while HPQ and COCO continued to fall into the black hole of dead investment capital. Who would have guessed that COCO would be trading for a lot less than $2 three years ago or even a year ago? Ok, I guess many did as the stock is still heavily shorted. Anything under $5 is priced to go out of business, and COCO sure might. Corinthian Colleges is still stinging from a report that came out last week about fraud in distance education with the title IV program. Really? Who could have guessed a government giveaway would have fraud in it? The only way to get rid of fraud in the government program is to get rid of Title IV, which is a great idea from where I sit. I still hold Corinthian puts that will expire at the end of the month. This one has been one of the best stocks for me all year, and even if this trade doesn't work out, I will still be happy overall.
Hewlett-Packard (HPQ) has fallen and we are all waiting to see if it can or can not get up. I am very close to throwing in the towel on this one. I love the computers (writing this with one), but the board of directors need to spend less time working on their handicaps and more time trying to figure out a long term CEO solution (low bidding lady is not it).
Big truck sales reported higher sales in September. Good news there, and the new truck owners will be more than happy to find out it now costs less to fill up the tanks, as prices of gas are falling to 2011 lows (maybe I am getting old, but paying $3.55 a gallon just doesn't seem to qualify as being "low")
The market sank again today along with Obama's chances of reelection. At this rate, it may not be all that great for Republicans either. Why isn't Ron Paul getting more attention? At what point does America turn away from government having the answers? My best guess is after we reach the credit limit....
