Friday, October 03, 2008

Quick Update

Reducing exposure... got rid of the rest of Citigroup (C) at $20. The vote is later on today, and there's more complication regarding the Wachovia (WB) buyout with Wells Fargo (WFC) swooping in.

I might be back in it in the future, but for now I'm done. Essentially took some not-so-huge losses on 3/4 of the initial position, and took a rather large loss on 1/4. Oh well. Could have gotten out of this last 25% yesterday for a good deal more. It's a pity that I'm not clairvoyant, I'd have avoided the past 30-45 days of absolute pain.

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