10/3 Day/swingtrades

The markets sold off on the rescue bill approval as expected. Psychologically, the window of opportunity to stop the bleeding in the markets closed with Monday's votes. Time for Paulson/Bernanke to try something else.

GS - After the first leg down, I waited for some consolidation before entering an order for puts on a break-down below 135.50. GS setup again so I pyramid @ 133.50 and finally exited @ 129.50 for $5.00 profit on the puts.

SOV - I sold the remaining position at 6.00 as the market started rolling over. This started off as a low-risk daytrade @ 4.24 so I'm satisfied with catching the extra move.

AIG - I sold some more AIG 2.5 Calls and rolled the remaining position into Aug 4 Calls to manage the downside. In hindsight, I should have just stayed out after selling the Oct 2.5's. But, I've already locked in a decent profit and am trading with the "house's" money so can affort to let the profits run a little longer in case we get a snap-back rally.