I also added to my…

It might be funny if it weren’t just pathetic, but do you remember how a couple weeks ago these idiot Republican/Democrat politicians and the bureaucrats they appoint at the Treasury, Fed et al, were running around the Sunday morning TV circuit warning that the markets would get hit hard if they didn’t get to some sort of agreement on their budget.  And the markets didn’t blink and even continued to rise during those next few days.

And then fast forward a couple Sundays and they’re all peacock proud about having safely navigated our country’s finances through this supposed crisis that if anything was simply one of their own incompetent making.  And instead of the markets taking off like everybody thought…well, we sell off harshly.

Near the open, I covered my XLF short and I bought WFC puts as I’d said I would earlier.  WFC subsequently sold off hard too and we’ve got a really quick (but perhaps fleeting) gain in the trade.

I also bought some Marvell common and I also bought some Marvell calls dated out to January and February next year at around the $15 strike price point.

I also added to my existing Cisco calls position with some January 2013 (very long-dated, that is) calls in the $17.50 to $20 range.

Good to be back!