Thursday, October 19, 2006

no title

yes, i duped my last entry. that is the true sign of a schwag blogger. At any rate, I just got home from a nice dinner at Sparks Steakhouse here in new york. its famous, and expensive...but a great night out for anyone looking for a place. Very new york and great food and service.

Anyhow the market managed to stay up today and honestly i cant watch it any longer. especially with expiration coming too many other factors are at work. One thing I wanted to point out was the number of companies which reported tonight with incomplete earnings an account of options investiations. This is something which hurts everyone even if you dont have direct investment in the companies. I wish it was given more attention. The money that is made from people who do these things hurts investors - and its so widespread its unreal.

At any rate I covered my LUV puts a few days ago to limit my upside risk and they had bad earnings. the stock tanked and i missed out on some extra bucks. Im still long SDS and SPY puts which are hurting me but I still believe this market is going to turn down. Cracks are starting to show in the subprime lenders like LEND and NEW and even co's like WM. Rumors aroudn that Bank of America will offer customers with a large checking account mortgages with no points. MMMMM frothy....


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