Thursday Rollercoaster

Days like today can chop suey your account. At one point was way up tried to push the envelope and finished with a small profit.

Tomorrow if we make new lows will look at this as a flag break and will load up on the put options. Specifically RIG. Oil fell off the chart today with the inventory reports. This means that these companies are going to be spending less on exploration. This is what RIG does. It currently trades at $48 could see $30's by the end of month. Will look at the chart and time a $50 dollar puts. Will buy some tomorrow if we break the lows on the $S&P cash index we made on Thursday of last week. Really looking at the 812 number for $S&P. Then the big round number of 800.

Currently i am in TBT calls and see no sign of bonds making a comeback. Can't see how investors will keep there money in the 20 year t-bills with stocks at this level.

Also i am bullish banks here. How low can they go. Went against my rules ,but some of these banks actually turned a profit. US bancorp raised guidance. BAC got rid of that freakin idiot and GS looked really strong today inspite of all the issues.

Well see was nice to have good earnings out of GOOG and AAPL. Just so much fear in the market is nice to have some good news.


One final note all we need is some light at the end of the tunnel and this market will skyrocket. I am not gonna pick a bottom!