Where are we going next...?

This market has been one of the most tumultuous in years. We have seen the total disappearance of Bear Sterns one of the oldest and most respected firms on the street. Freddie Mac and Fannie Mae have gone down to the point of being only worth spare change. Lehman Brothers is worth only $.19 as we speak as they file for Chapter 11 and Bank of America has offered to buy Merrill Lynch for a fraction of what is it worth. The only two left are Goldman Sachs and Morgan Stanley
which both release earnings this week. The put buying has greatly increased on all these banks including AIG , while the FED will meet this week and a possible rate-cut may be on the horizon.

Trading in this market is very risky especially with options but with high risk, there is high reward. Keep your eyes on the banks especially as the market approaches the 11,000 support level which if broken, it could be a long fall. Till next time, www.freeoptionspick.com .