wowzer’s -800pts drop then 500pts drop. what a perfect time if I had the money to be playing put options…
so yes…I see the market continually dropping to new lows and I’m overly anxious to jump in and play put options. the bailout plan passed through, the markets continued to fall, and now yes Fed. bernanke says the economy is just going to get weaker!!! why the heck did we just put $900 billion paid for by tax payers again?? i liked barack obama’s note on firing all the AIG executives and giving the money they got from the Fed back after going on a $400k retreat in california. this of course is while they are going bankrupt and shareholders losing lots of money. yikes.
i would play short term calls into tomorrow morning. i will post this later tonight once i check out the charts if it brings me to this decision even though overall i’d play long-term put options on just about everything. it seems to be a big see-saw downwards into a spiraling of death. kind of reminds me of 2000-2001 drop. it should drop even more. hundred dollar stocks went to 30-50’s so apple could easily come down and get beaten with google and rimm. just look at FXI and many big bank stocks.
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This entry was posted on October 8, 2008 by Paul Awol. It was filed under trading stock options and was tagged with 2001 markets, aapl, aig, bailout passed, barack obama firing executives, billions, october 2008 crash, political debata, put option trades, rimm, tax payers, weak economy.