Monday, March 2, 2009

Allied Capital is...still worthless.

I never get tired of watching Allied's stock charts. I like the last minute of trading especially. There are frequent days of 15-30% losses followed by sky rocketing prices in the last minute to close. I'm sure there is no manipulation going on there just as closing prices are reported.

As for the underlying company, the Washington Post ran a story on them today which was less than flattering. Just to reiterate, I am no longer short this company, as I exited when my options expiration date hit and just left it at that. I'm perfectly happy being short entire markets now and sleeping well at night rather than picking financial firms and worrying about bailouts.

Still though, Allied is worth $0. Just as it was last summer.

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