Thursday, February 26, 2009

Still No Sense In This Market

Taking a cue from Jim Cramer, I'm declaring this market too tough. Nothing is working. Sometimes I think that the only trade right now is to buy puts on major indices right before our president opens his mouth. No hard feelings to Mr Obama, yet.

Of course, I'll be looking for possible developments. There are possible trades out there, but they depend on answers to the questions below.

Is it really oil (meaning, of course, oil futures) bottom?

Can gold boom continue without India buying?

Can anybody in government get real about bank nationalization? Is it hard to understand that neither Citi (C) nor Bank of America (BAC) is solvent?

How many prime mortgages are subprime now?

Are we going to have corporate mortgage bailouts?

What about corporate long term lease bailouts?

And last, but not least: where is Tim Geithner?

My apologies to Todd Harrison for using his favorite format...

Full disclosure: at the time of publication author did not have any positions in C or BAC. Positions can change any time.

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