Just prior to market close I purchased a boat load of IBM Jan 200 puts.IBM was up around $211 at the close.
It's down around $6.50 now.
Since this is not an IBM board, I'll keep it brief as related to our SLW and metals.
AFter cooking whatever numbers they could, it all boiled down to revenue which missed big time and guidance,which, in Eurozone and Asia will be lighter.
Tech is in trouble. When tech is in trouble INTC,IBM, and as we will see shipping rev.down,this all portends towards a global slowdown. We knew it was coming.
Just have to prepare for it.
We are entering the recession they won't admit to.
I couldn't look my gift horse in the mouth any longer and with IBM down over $10, my puts I purchased yesterday doubled + a few.
Just unloaded most of it.
Now we wait to see what tomorrow brings for Spain's decision,or is it Spain's decision?
Was gonna wear 1/2 boots tomorrow, but I took out my old Dingo's.Hope they're high enough.