Warren Buffett, has placed a massive $5b bet on Bank of America and America in general. People were expecting QE3 from Big Ben but it came from the Oracle of Omaha, go figure. Right now the market is acting pretty poorly because of rumors out of Germany that I'm trying to hash out, and the looming Jackson Hole meeting which no one expects to help this market at all. The options trade is telling us we're gonna see some more downside. I'm put on some shorts in the Spyder S&P 500 ETF (SPY) for a little insurance, but I'm still confident we've seen the lows in in the major indices for the year. I'm cautiously bullish :)
This is not a recommendation to buy or sell any securities. DAK was short SPY at time of publication but positions can change at anytime.
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