Wednesday Action

Sorry for not being on top of the blog today but had some personal stuff to do today, like take my cars to the dealer. Wow what a day! I traded futures today and it was my best day in trading S &P futures. The range today was unbelievable and I caught alot of the moves up and down. I got 20 points on the ES which to me was beyond impressive and I wish I could have one day like this every month.
I am looking to trade mostly futures as we head into the summer as it will be harder to trade stocks as volume will dry up as more traders go on summer vacations.

I noticed a few stuff today while running in and out today. One was oil, which seems to be shaking out weak hands and look like it wants lower alot lower. Believe me I will be waiting to catch oil this time on the move lower to higher prices and will update when I believe we are close to a climax selling. On this solar stocks also look lower, FSLR, SPWR, SOLF etc all seem to be heading lower here based on Oil push down.
Secondly Financials again look weak but we might be coming into a range where the selling might abate short term. Why do I say that? GS was very strong and MER upgrades LEH. Remember the brokers will be reporting in 2 weeks I believe, so some shorts might cover before these are announced.
Lets see where we go tomorrow. If we gap up 100% I would be short if we gap down wait for confirmation before you commit anyway.

LEH

Is LEH in trouble????
Who knows but seem like the street thinks so. As usual the investors who own the stock wont know till it is too late.

Market Crushed

Market is crushed here-
everything down. Don't be long- long is wrong as I said yesterday especially.

Citibank is $1 from being a teenager, LEH down almost $5, GOOG down $14.

TOTALLY CRUSHED.

while how we doing, short on C, long on SKF (117 now, bought @92.50 sweet), short SOV, short MER and short WFMI.

No losers here!!!!

ONLY WINNERS period!!!!!!!!!!!!!

LEH

Rumors around that Lehman Brother going to initiate new write offs

Futures Trading

Futures trading taking preference in my account right now- These quick swing can be capitalized on trading only futures

Market slide

Market just got a huge slide in the last 30 minutes on news that Obama mathematically is the winner. MSNBC calling him the winner and with that Obama is leading McCain in the popular census. As we all know Wall Street is Republic.

Tuesday

What a day yesterday! The brokers got killed and now this morning news of Lehman Brothers may need to raise $4billion is another dagger in the heart of the brokers. I think today if we open down and test the lows of yesterday we will more likely get a bounce.
For all those non believers in the bear market, I hope yesterday and last week action provess that we are just rallying in a bear market. Today I would look for the tech to bounce if we bounce, noticeably AAPL and GOOG.
I have an option play I might call as a Trade Call today so stay tuned