Powder Blue Report

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Sunday, August 29, 2004

I Love It When I'm Right

I told people a couple days ago to go long the Bush re-elect contract. Did anyone take my advice? If you did you would be making money right now. You could have gotten filled at about 55. This morning the contract is trading at 57.5. My projection is for it to get to about 61 right after the convention. When the convention is over I would sell the Bush re-elect contract. Reason: after a run up like it had, it is going to pull back a little, again my guess is to expect a pullback maybe to 55-56. It is just the natural ebb and flow of the campaign.


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