Well I'm glad I stuck to my financial puts and didn't get out during the short cover rally. The only concern is how long to hold these puts? The news headlines are definitely in my favor for FNM as one former federal reserve president said it is insolvent. It is funny when you type in FNM in google and it pulls up a band called "Faith No More" which I think exactly what the market feels about Fannie Mae right now.
Even more ridiculous is WB that was upgraded yesterday by MER. I should just get a put on MER for that comment. It was down the day they announce their upgrade yesterday and is down today premarket 9%.
I currently have financial puts in: HBC. I sold my WB, FNM put around market open. I still have my GOOG puts I'm hoping AAPL will put them down with them after announcement of 3G.
Even more ridiculous is WB that was upgraded yesterday by MER. I should just get a put on MER for that comment. It was down the day they announce their upgrade yesterday and is down today premarket 9%.
I currently have financial puts in: HBC. I sold my WB, FNM put around market open. I still have my GOOG puts I'm hoping AAPL will put them down with them after announcement of 3G.
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