Regardless of any government plans, the underlying problems of a locked up credit market and trillions of dollars worth of now toxic mortgage glop are still there.
I’ve done well the past several days buying puts on financials. With the huge rally of the past two days, my few remaining puts have gotten whacked but my stocks are up more than that.
Even Jim Cramer is now leery of the market saying if you aren’t real sure of a trade, then don’t do it, and to sell what you can on Monday.
After this week of concentrated trading, I’m fried. Can’t imagine what it must be like for floor traders and other such pros. And we all know that it won’t be ending soon.