Anybody put/short BSC on Friday, please raise your hand, you are genius.
The panic sell-off was just postponed, but not eliminated by the 400 points while candle stick.
The market will perform the way like it was in mid-November, it will be very volatile for this FOMC and OE week, and then will rebound later. I have 70% confident on this.
The market bottom is usually featured by bankruptcy of several big banks such as BSC. The question is, whether C and LEH will be next candidates? I don't know, but I can play.
LEH will report tomorrow, as a contrarian's view, I think the post-er market reaction will be positive, unless LEH report something similar to BSC, however, to my knowledge and source, LEH is not that bad. But we are not going to play on it.
A recommended option play will be call GS with put C, both near money OTM stike of this OE. Please note option play is not suitable if you are starters in stock market.
By the way, gold is now is 1023, while AUY was my only US stock recommendation in past week. Regarding CAF, just hold for another day or two to see what will happen on FOMC.
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