Monday, September 29, 2008

News Flash: Bailout Bill Defeated!

Awesome news from the wire! Too bad I closed out my short call on BofA; now I have to think seriously about re-opening it at 35 or higher to recoup my losses.

The markets are responding appropriately, with massive declines. I remain long gold (IAU) and bearish on both financials (XLF) and the broad market (SPY).