All-in against C

Time for the big play. This isn’t the smartest play, but it could yield some sort of exciting results. I took a majority of the cash in my account and bought puts against C. I’m not just crazy here, I really believe that Citigroup is destined to drop below $20 within 7 days. You heard it here! This isn’t an April Fools thing, it’s a Retard pick.

The charts for today make everything look great. Not everything is great. Yes, I lost over $1k today in paper loss with C, but that’s just something I walked into (I knew to cover yesterday with a small gain but held because I played it like a Retard).

There’s more bad news out there, and just because a new quarter started doesn’t mean that things are going to be bull territory. It’s still the bear market and being a bear is what I do best. Well, actually I play ski ball best, but taking the view of a bear is also something I do well.

Buy:
C May08 $22.50 put (CQA), 40 @ $1.45
stock price entered $23.87

Having this many options should make for an entertaining day tomorrow.