I will not be taking any option positions this week, as i am going to a long holiday break ..yipee. I am tempted to take up some position due to the increasing market violatility but I want to spend my holidays in peace. Increasing market violatility is certainly can be very profitable to any options trader. I expect that the coming weeks for Wall Street will be very violatile. Oil kept on hitting all time highs and its effect going to hit the US consumer at the pump station when they start to pay USD4 per gallon. Even Malaysia is not spared from the woes of high crude oil, the government has decreed a ban/limit on the sale of our subsized petrol prices.
US financial banks are feeling the heat again with Citigroup's stock losing a some significant value from the recently concluded DJIA short rally (it retest 13,000 at one time)when it started to downtrend AGAIN. Lehman Bros is accused of cooking its earning reports by a hedge fund manager and is suspected to be having similar credit problem like Bear Stern. (see LEH's short squeeze at http://www.shortsqueeze.com/)
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