With that done it goes to the house that already said no Monday. This time though there is more pork added to make it attractive. Last I read, it has 112 billion of pork added to it and a simple 3 page proposal has turned into a Novel size now. Just ridiculous.
Did not get filled yesterday on the Nov puts early on as the market went south in the beginning. Canceled the trade. Looking for this political voting to end then place the trade again.
In my humble opinion, October should be a very bad month for stocks. A very good probability trade for the short side.
Thursday, October 2, 2008
Wednesday, October 1, 2008
A question
If the supposed bailout is to effect the banking system, why do we need a vote for 700 billion. Didnt the reserves just pump 650 billion into the system already?
Is this bailout pacakage more of a "see we are doing something" in Washington.
Looking to go long Nov. puts in the next few days on the SPY. What strike depends on where the market is at the time. I am looking for a real route this month in equities. I do not usually do this, but what the market is showing us this makes sense to me.
Is this bailout pacakage more of a "see we are doing something" in Washington.
Looking to go long Nov. puts in the next few days on the SPY. What strike depends on where the market is at the time. I am looking for a real route this month in equities. I do not usually do this, but what the market is showing us this makes sense to me.
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