Market Top??? All aboard for the ride down !

Thomás Ó Cléirigh

According to this commentary (Link below)we should expect a big drop in the market soon this is just an opinion but if this will come to pass we can expect to see all of the financial institutions (Banks) hit a wall and collapse back down to their lows. So I would now start to hedge my bets to the downside.

As a trader of BAC I have a long position but I have also a covered call in place but I am now looking for a good entry to place a put position .By the sounds of it I need to move now to get covered. The chart seems to confirm the resistance of $8.50 and I note the stock is struggling. A good entry would be 8.25- 8-35 All aboard for the ride !!

Can the Fed Fool Investors Again?.

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About machholz

I started this Blog to get out of my system the absolute rage that I have for the corrupt politicians and their Banker Buddies. I’m an ordinary guy, married with kids, and have firm opinions of what is right and what is wrong. I’m not afraid to say it even when it makes me unpopular. I reproduce news all manner of articles, but will always confirm the source of the articles; this is a compliment to the source of such news pieces. But if you do not agree with this and you are the original author, I will take down any article when requested to do so. I do not assume that the author of the news articles share with my views, I include news articles to give readers another slant to my views or to illustrate what the mainstream news media say on the relevant topic. The opinions expressed are my own but I do not accept liability for them, If I have offended you or made a factual error please put on record the truth by leaving a comment. In addition, my thoughts and opinions change from time to time...I consider this a necessary consequence of having an open mind. This weblog is intended to provide a semi-permanent point in time snapshot and manifestation of the various memes running around my brain, and as such any thoughts and opinions expressed within out-of-date posts may not the same, nor even similar, to those I may hold today. For the record I am currently an Independent political activist and am not affiliated to any political party
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