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Manic Monday - Just Another (Million) x (Million) Dollar Bailout!

Another day, another Trillion dollars for the banksters ! I mean really - how much money did you loan Greece?  Perhaps you wrote Spain a check?  France???  Well, you did now!  $220Bn of that money came from the IMF and 20% of the IMF’s money comes from the USA as we once again paper over the global financial crisis for another month or two - whatever respite $1,000,000,000,000 buys us these days … So YAY, I guess.  We couldn’t be more thrilled for ourselves as we cashed out at the top and went short, then we cashed out at the bottom and went long .  We’ve caught moves in the market from top to bottom that used to be considered two or three good years of trading in the past two weeks - that’s nuts!  We went up so fast that there was no point in putting plays on our new Watch List (can’t be a Buy List yet because we don’t like chasing) as we’ll be up 5% at the open today.  In addition to the DIA $107 calls (my comment into Friday’s close as to whether I would keep them into the close was: " Not if I can get out even but they are gambling money so I won’t take a small loss (not when I can have a much bigger one!) " - we also picked up very nice entries on BAC, BRK/B, C, CAT, ERX, GOOG, LVS, MEE, MON, RIG, T, TBT and TZA (shorting it).  How long we stay in those after the instant gratification of a 5% bump in 8 trading hours remains to be seen, as I said in our Watch List post:  There are two major forces at work there - the NEED to OVERCOME GREED and the TOOLS to OVERCOME FEAR.  At PSW, we have a 2-step program for overcoming greed.  Step number one is " Taking the money " and step number two is " running ."  The people who master these two complex steps find they have lots of cash at the bottoms and the tops of the cycles - they find that you can buy low and sell high once you realize that you don’t have to wait until the top to sell nor do you have to wait until the bottom to buy - especially when we can go from top to bottom at the lightning pace of today’s crazy markets.  That’s where our TOOLS come in.  Having the right hedging tools lets you take advantage of these crazy…
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