Friday calls were profitable to 44%, leaving us profits all through one of the most shocking financial weeks in history.
For those of you that watched the debate, you were seeing TWO complicit politicians that HAVE BOTH (AS HAVE BOTH PARTIES) been influenced by lobbyists and Washington, and are BOTH part of the problem.
The issues discussed were pure babble, as nothing either have planned to do can ever occur now, as our financial situations have changed forever.
Iraq is the real issue, and you either believe we should not have gone, and should leave, or you believe we must be there to "win" and "protect Israel" and the world.
I am so appalled that America could even believe McCain and "we must be in Iraq, the surge is working", or that "Obama a Junior senator not knowing the difference between tactic or strategy".
If anyone saw Sara Palin interviewed by Katie Couric and will still vote for the possibility this woman could be the leader of the world, then all of the problems we have right now are more than deserved, and may we become an obese nation of indebted people.
China is beginning to cut off their buying of our debt. The USD grows less in value each day.
How was the USD and how was the deficit 8 years ago?
Who was in charge?
(My absolute favorite is the fodder now circulating that the entire housing mess was created by the Democrats. The false financials and lack of regulation were led by Abramoff, Delay, Rove, Scooter, war in Iraq, fake bids to Halliburton, and oil lobbyists. The mortgage mess is only part of the crash, and what we are seeing)
With this said a bailout will hit the news in some fashion as this weekend continues, or early next week, and it is likely for two way trades.
At OEX Options we will only trade to the call, for the short term, even if we miss a dual signal, as we think the market ripe for another dead cat bounce.
This is the fact: Under President Bush, and under a Republican administration, it is very likely today that IF an agreement for bailout is not reached, that the stock market could drop as low as 7700. If the Democrats are given the blame for this, or if this country elects McCain over "the fear of terrorism invasion" (what Floyd calls the 9/11 Rebublican "fear" game) we will enter the next great Depression, under an 8 year Republican watch. Supply side economics, which Floyd has preached about for years, does not work. This is the issue, NOT whether to bail out the banks. The issue is "who is in control", and who is being represented (not the Middle Class).
Do not think of silly things like "abortion rights" or "family values" when our world as we know it may be ending. This is not God talking time, but time to really think about pure government logic. Deregulation does great for those being deregulated, with no controls, and with a government that borrows its money from Communist China to support a war, and ongoing potential conflicts. If McCain dies, could Sara Palin honestly represent you as a citizen to the world?
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