Euro Zone

Chatter from Euro zone of a massive bailout of financial institutions dwarfing the 700billion proposed by the FED here.

Things are getting very interesting

Financials

Financials are the leads here over lunch. Lets see if they can mount a rally on their backs

TRADE CALL :Citibank PUTS

This is very rare I double up on plays but I am goign to double up here on those $22.50 puts on Citibank here.

Buying here @$2.95.

Average is now $3.50

ISM

ISM came out @43, way below consensus, showing weakness in production

October

Well first of the month and most hedge funds will be posting there performances to their clients. Alot of hedge funds have been getting crushed and I assume some will want to pull there funds as things are getting more and more unsure as we go on. Lets see how we react today and possibly tomorrow on a bailout plan.

One roller coaster

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

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