I am taking hit today, straight up. I hedged myself with the SRS but sold it for a quick profit. I bought some TLT to get a little treasury exposure, with the fed buying long-term bonds, this should increase because the prices of the treasuries will increase (while yields drop). I bought a little JASO today also, for some solar fun.
The market is tanking because of the fear of the big automakers going bankrupt. Personally, I don't think they should have fired Wagner, the problem isn't him, its the UAW chokehold. Until that is fixed, they will have issues. As for market movers, nothing is up really. Capital One (COF) is tanking, down 17%, so I wished I would've shorted that Friday. Finanicals as a whole are getting smacked but that might change, with the mark to market meeting coming up Thursday.
I may look to buy more today and I will post. I'm not a market predictor but I don't think we will go through support at 777 and with the Thursday meeting, many hedge funds will not want to be short.
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