Markets Are Not Normal

The text in this blog is taken from the daily alerts I send to subscribers of my OEX Options trading instruction service at OEX Options

This ought to be enough to make you smile:
NEW YORK (MarketWatch) -- U.S. stocks fell on Tuesday, with financials greasing the slide, after Federal Reserve Chairman Ben Bernanke described financial markets as far from normal and an analyst slashed estimates for major brokers, including Merrill Lynch & Co.

"Financials are selling off again today, we saw an influential analyst cut numbers -- brokers still have downside -- and, the market is just taking some profit," given its 10% climb from the bottom hit in the middle of March."

Where do these idiots come from? The financial markets are NOT normal, oil is at all time high, and brokers should all be downgraded. It's obvious.

With this said, we took entry to the June640C, sold our June630C from the day prior (or may still hold partials) and continue to see two way trades in the market.
We continue to see a potential for short upside to near and around 13,000, moves then to below 50 day moving averages, and a return to upside. The directional bias,however (which will come first) will depend upon events,and what the idiots say today. Bernanke led this sell off with "markets are not normal".