Banks...............

[Shemale_luver_str8]

What I see happening is well as Don Henly put it
"The Rich get Richer, and the Poor get Poorer."

Bush due to his financial state, is giving tax breaks so he doesnt have to pay that much taxes when he gets out of office.

Everythings going to shit thanks to The Bush Family

[flabbybody]

DRYS
down 17% since Friday

ooch

[tsafficianado]

falbby

yep, bulkers are taking on water. TBSI popped up 19% on Friday, gave it all back yesterday and today. They were all up 15-19% Friday which gives you an idea of how fast they can run. The BDI is still dropping like a brick, until it turns up there is no hope here. The global slowdown thesis is in full gear dropping commodities AND the bulkers. If the commodities turn and the BDI bottoms the bulkers should do well, especially from down here, they are all off more than 30% in the last month. The market seems to be ignoring the DRYS drill ship spinoff (the ships have long term booking at very high rates), at this point the bulk side is priced at about $23 and they will earn $12 this year and $8 next, priced for armageddon.
Market rule #1....the market is always right, no matter how wrong it is.

Today was tough, all of my leaps dropped and MIDS gave up a penny which shaved me $7000. Shorted oil early and sold half up about 30% in the early afternoon, now it appears the Dems are going to let the offshore drill ban expire so oil should get bashed tomorrow. Bought some EMC leaps (calls), stock is way down and the rumor is Cisco might buy EMC or VMWare (EMC owns about 80% of VMWare), either way any lift in the market should move it up, a buyout might be a bonus.

Buffet is buying $5 billion of Goldman Sachs with warrants for another $5 billion so the market will be a lot more buoyant tomorrow. All of the financials are going to pop in the morning, wish i had some calls. If Congress would get the thumb out of their ass and float Paulson $700billion we could get some real lift.