Monday, April 14, 2008

C, Citibank

I was not able to catch Citibank short on this push higher but you all know what I think about citibank and Washington Mutual. Citibank definitely going to $15 area and WM geez is just dead money if you ask me. Market is very surprisingly slow today but i am hoping with fridays' options expiration and the tech weights as Intel, IBM, Ebay and Google reporting this week we will se some volume in here.

Not trying to stick my head out here too much as we get can whiplashed either way.

TRADE CALL :COF May $50 puts

Currently at $5.50 worth a good shot here

symbol COF QJ

NICE

How you guys like SKF now up $16 from call.
How you like FNM in total death spiral now up $5+
How you like SOV. That short is making new lows ever single day, just print profits.
Folks dont invest here you will thank me later for the advice.

I am currently short SOV, FNM, GOOG, AAPL. I did miss a few and have been in and out of the financials short.
We can all think here is a bottom in the market but there is none. we are in a black hole with financials earnings and I dont think we will be out anytime soon. I still think we have a good shot to bounce in this earnings season but after bye bye we going down.