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The nation’s future: When campaign managers are in charge, it’s time to short Under Armour

Today's Financial News - Posted September 26, 2008

Wall Street is in a mess today. It is all thanks to our elected officials in Washington. Yesterday, we were close to a deal. Today, we have moved backwards and investors are paying for it. Go short on companies like Under Armour (NYSE:UA) and take advantage of the action.

By Andrew Snyder

Baltimore – (TFN): The deal is dead.

Here we are one week after Bernanke and Paulson ran to Washington to beg for nearly a trillion dollars and no progress has been made. In fact, our elected officials may have succeeded in moving the whole thing backwards, making one of the most dangerous, politically charge financial emergencies in the nation’s history.

Yesterday, the equities market celebrated rumors of a finalized package. All we needed, we thought, was for McCain and Obama to gather with the president, smile, and snap a few campaign photos. It was supposed to be a done deal.

Who knew a shouting match would erupt, proposed bills would be ripped apart, and Wall Street would be hanging on for its life?

As if this financial fiasco was not nasty enough, Washington’s political pandering has decreased the chances of success exponentially. Our legislators are not thinking about what is best for you and me on Main Street. They are merely working their political campaigns, and screwing us in the process.

Instead of economic advisors shaping the deal, campaign managers are calling the shots.

Thanks to this nation’s tendency to put politicians before citizens, Wall Street looks like it is gearing up for a plunge today. Money managers across the globe took yesterday’s bullish action to shrink their portfolios and bail out while they had a chance. There will not be any buyers today unless Washington makes a move.

If you are a savvy investor looking to make some money off this action, go short. Invest in the companies looking to make the biggest drops. My favorite short position right now is with Under Armour (NYSE:UA). Earlier this week I recommended readers buy its January 30 Puts (UAMF.X). Their value has risen by over 35% already. Much bigger gains are on the way.

Today is going to be a historic day on the Street. There is no doubt the bears will start off in charge. Hopefully, Washington pulls itself into high gear and gets us out of this politically corrupt mess before too much damage is done.

One thing is for sure, Washington is not looking out for you and me.


Next Article: Cherry-picking in the smoking ruins of the global markets

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Posted by Andrew Snyder · Filed Under Politics 

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