This is one roller coaster market. Down yesterday by the worst absolute amount ever on the DOW and second for the S&P. Now today we are up huge, 400+ as I write and S&P might have its best day in 5 years. This is just crazy.
Tomorrow is first of the month and I would love to see us push alittle higher into the pending redrafting of the financial bail out bill.
Talk to you tomorrow
Tuesday, September 30, 2008
TRADE CALL :CITIBANK PUTS
Risky play- but I believe citibank is just buying time before it goes to $10.
buying the Nov $22.50 puts here. @4.10.
ticker is C WA
buying the Nov $22.50 puts here. @4.10.
ticker is C WA
Futures up
Futures trading higher on optimistic views of a bailout bill being passed. I think we will get one but the rally that follows will just be a reason to sell into or short. I dont see any logical reason to buy in this market but see tons of reasons to sell. Folks dont make this harder than it is the market is weak and the only time we go up is on news not fundamentals.
Fundamentals and technicals say we go lower in the long run but the bailout should give us a push higher
Fundamentals and technicals say we go lower in the long run but the bailout should give us a push higher
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