MMM...shorted the ES last Friday at 57.50. went up against me pretty badly, maybe half a grand (10 points). AXP (American Express) got dumped after reporting earnings. Customers are defaulting on their CC loans... which is pretty fucking bad. That and AAPL lower forecasts dropped the ES and I covered at 50.
SWEET.
I was thinking of buying puts on AXP, but never got around to that trade. so that kind of stings a bit. I'm also thinking of doing a little risk-arb with DNA (Genentech) and Roche. But I still have to look into the details of it. I also want to short airlines.
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