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Midas Madoff Does it Again!

From: Bernie
To: Jamie Dimon

No need to thank us for guiding you on your short sales last Friday when the Dow traded back to 10,800; its always a pleasure being prescient. Per trade confirms that Jodi or Nan will punch out later today, we covered those positions this morning before the opening.. You'll notice that we also decided to buy a few thousand extra S&P e-mini's for the bounce later this morning.

We're now suggesting a spit-strike straddle strategy for June expiration: selling out-of-the-money put spreads and out-of-the-money call spreads.. So far we're up about 80% this month for your account, and would expect next month to be a good one, too.

I'll update later today just to slap myself on the back for predicting today's market close, but my sides are splitting from watching this clip, and being reminded about the mental retards that are trying to figure out "financial market reform.." Wasn't this the same guy that said in 2005 "there is no risk of a housing bubble", and is now blaming the popped bubble on the banks?

Can't make this sh*t up! This stuff just cracks me up!:

Full post as published by Bernard Madoff on May 21, 2010 (boomark / email).