Posted on August 28th, 2008 in Daily Stock Market / Economic News - The Real Story, Mr Mortgage's Personal Opinions/Research
I am hearing chatter something is about to go down soon. Who knows if this will be a bailout, but rest assured the tax payer will likely beon the hook for something.
The options market is confirming something is brewing with the XLF put-call ratio out of control. There have been approx 500k at or near the money front-month calls and 250k for next month. Put volume is a paltry 110k front month and about 45k next month. Several other indicators of ‘news pending’ are flashing.
Being the contrarian I am, I would view this action as bearish for financials. We will see soon. -Best, Mr Mortgage
Earlier today I discussed why keeping them private will be bad for housing. But who the hell knows what the solons have up their sleves. Link below.