Update 11/21: I was a little early on this short! I was happy to buy a few cheap $33.5 weekly puts for next week. I typically don't like to buy options at the end of the week to carry into the next, but, this was one hell of a up, that hardly seems sustainable. But then again, I never thought the XHB would make it this far. This whole thing is being propped up with HFT/ALGO BS because the whole market s rigged. Look at all the mess: Scandel, Libor scandal, now the latest commodity scandel, Madoff, JP Morgan and all these banker deaths that seem all too conspicuous. ALL these unusual banker suicides 48 of them in the past year and a half, and now on last night who slit his own throat and wrists? Who does that to themselves? Ridiculous. Many of them at JP Morgan, some who knew each other, some in IT Programming. Probably knew too much. Did you know these institutions carry insurance policies on their employees that are classified? They have a motive to see them killed if they get in the way. THEY COLLECT. I'm not conspiratorial, it's just the way this screwed up place we call planet earth has become. Pretty sickening how greedy and selfish we can be at times. Anyway, this wasn't meant to be a diatribe. There are so many banking scandals it's sick. And none of them go to jail. They to big to fail, and to big to jail.
Update: Wow, who would have thought the ECB would finally juice the market, and China drops rates. Next up... does the FED juice the market to keep up? I am finally short XHB at 33.50. I hope there are no more surprises!