March 22, 2007
Step on Dee Gas
Tone was slightly positive all morning but then it just exploded post-Fed announcement. Folks positioned on the wrong side got crushed. The intraday chart of 15 Ideas portfolio member Washington Mutual (WM) is pretty representative of the action.
A word about the 15 Ideas donation campaign: I figure about 1% of my regular readers chipped in and were on average extremely generous: I thank you all. I’ll be sending donors a screenshot of the portfolio P&L from time to time (similar to the one below) to let you know how much we’re underperforming the S&P
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