First, I hope everyone checks out the Option Writers free trial. Believe me, there have already been over 150 people sign up so this will not last long! Now onto trading business, I guess the stress test results weren’t that great - especially for BAC which apparently needs nearly $34 Billions in new capital. Again that Billions with a “B” people! Now quickly onto the charts as there is a lot or work to do today with new positions I am looking to enter in here. I was going to enter some positions at the open but have decided to wait until mid-day considering the futures are jumping again.

Still, I think that a couple of Inverse ETF plays might be in store here considering how cheap they are right now. Particularly the QID which tracks the NASDAQ and is trading around $35 or so. This might be a great trade for those people who still don’t feel comfortable shorting and would rather go long. I’m sure I’ll be back later today with some more outrageous comments about this market rallying.