No, I have never bought a low or sold a high in my life.
Anyway, do you really think this 50bp rate cut will do anything but give us a short-term short covering rally?
The market will still be down until this mortgage mess plays out.
I will hold this put until it get near Sept expiration. I'm up 50% instead of 100%. Its ok.
A word to the wise, all the big boys (including Cramer and his CNBC cronies) are unloading their positions in this rally. Did you see the commentaators shitting square nickels? Now they are patting themselves on the backs. Their even talking of another "emergency" rate cut b4 the next Fed meeting.
At near $46, WAG may go a little higher but it near a high. Get out of all your stocks!! A crash has been averted on options expiriations day today. Watch out though!!
This Bush-thrown party is over and it's gonna suck. Time for a long hangover after the long drunken high.