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September 15, 2008 – Comments (6)

Lehman is allowed to fail as Hank Paulson finally shows some spine. Spooked Merrill jumps in bed with Lothario Bank of America.

Regulator says "no soup for you" to Messers Mudd and Cylon r.e. those multimillion-dollar golden parachutes.

Feels like a good day for capitalism, not the fake "heads we millionaires win, tails you taxpayers bail us out" kind of junk we've had for the past few years, but for the good old-fashioned kind where losers lose their shirts. Unfortunately, that sometimes means some really scary times. I believe we're going to see that now.

What should you be doing? I'm going to say today: you need to be able to sleep.

For my part, I'm going to be dangling short put offers out there, because nothing helps get juicy premiums like absolute panic.

Sj

6 Comments – Post Your Own

#1) On September 15, 2008 at 9:48 AM, dinodelaurentis (73.70) wrote:

you got that right!!

remember that we are no better or worse than any other living organism on the face of the earth.

life is simple. we make living complex. common sense isn't common, is it?

i invest and learn. learned a whole lot in the last 5 months. i learned how correct my father was. living thru the 30s did that to people. and TMFBent, i sleep like a baby, thanks for asking dude.

i wonder what we will call the next few years?

 

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#2) On September 15, 2008 at 10:26 AM, Imperial1964 (98.29) wrote:

I'm trying to short some NFLX Puts, but surprisingly I can't get a decent price.  The bid hasn't moved from Friday.  And now, as I write this, NFLX is up, not down!

TD Ameritrade keeps kicking me off and Scottrade won't let me sell to open options.

Comparing the S&P's performance to stocks on my watchlist, my watchlist has barely budged.  So much for finding good stocks at bargain prices.  I guess it's mostly the crappy ones that are falling today.

I did buy PHG, though.

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#3) On September 15, 2008 at 10:56 AM, dinodelaurentis (73.70) wrote:

Zecco .com kicking me out also.

must be due to the unusual volume.

talk radio full of indignation, wanting accountability.

i'm sure it'll pass.

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#4) On September 15, 2008 at 12:11 PM, GS751 (27.56) wrote:

Be careful trading volatility right now.

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#5) On September 15, 2008 at 10:41 PM, FleaBagger (28.14) wrote:

Po' folk like me aren't allowed to write puts.

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#6) On September 30, 2008 at 12:01 AM, mgiv (97.65) wrote:

while you shorted puts in the fear,  I waited for the bounce and bought out-of-the-money puts on banks guaranteed to fail.  So in less than a month I have 400% return on a portfolio of 30 options.  Too bad i'm paper trading on yahoo.  Also what some are considering put premiums, I see as evidence of certain death atleast if it backed by the fundementals and the blogs I'm reading.

Regardless of what the government does, these banks were going to fail anyway.  So far I've been 50% correct so that may explain my returns. Red thumbing in caps just isn't as much fun.

Also I've seen the puts rise in value even with the stock going up.  If SpecBear is trading options right now.  He's probably already a millionare.

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