Put Congress in the blame

Hey

I am getting pretty angry over Congress' attempt to show it cares by putting Countrywide CEO's feet to the fire. The idea that smart men and women, elected to represent their community, did not know what was going on until now is an absolute joke.

They let these predatory lenders into their communities. They covered the banks' recent financial losses by accepting the Fed's rate cuts instead of demanding a higher rebate package. They simply had their head in the sand and their hands out for donations. I wonder what Countrywide and the other lenders political contributions were like.

Congress members failed their communities as much as the lenders failed. And now our financial system is in trouble. To be clear, I feel that this is not a democrat or republican failure. This is an institutional failure.

3/6 PBW and more

Hey everyone

PBW is testing 20 for the third time in a month. A couple of days ago I suggested a 21 straddle and that trade looks like a winner on the put side of things. I would actually look to sell the put at a profit at this point and ride the call. For disclosure purposes, I own a 22-24 June call spread that I still feel positive about.

Buffett is the richest person in the world. That is not surprising. The diversified but focused investment approach is in my opinion the best.

evil empire introduces 401k debit card

Hey everyone

Recently there has been an idea and execution of getting a debit card for your 401K plan. Stay away from that! It is simply another way for the banks to get at your hard earned dollars through fees, fines, and penalties. There is a plethora of articles on the subject with this one from genxfinance as an example.

Speaking of the banks, it has been noted here before how they have been saved by the federal government. I read in the Wall Street Journal today how Citi might be letting go of over 25,000 employees! Can you imagine what the damage might be had the feds not covered their butts?

PBW is trading at the low end of the range.

2/27 PBW

Hey everyone

Greentech Media put out an article about the solar industry on Seeking Alpha.

The chart is consolidating and is creating a nice wedge. There might be an opportunity to put a straddle on at 22 or 21. I would make it at least six months out to give sufficient time protection.

That said, I am still hanging with the call spread I own. I personally think that the sector has a lot of growth ahead of it and it will benefit from both public and private funding.

PBW news 2/25

Not much movement or news today. There was a story about First Solar in the WSJ's Investing section but it was fluff being the hot stock in 2007. But press is press.

The bands are within 2 points of eachother which is the closest they have been in 3-6 months. Expect some movement this week as the fed chairman speaks to congress and a couple of the companies are releasing earnings.

Later

PBW info

Hey everyone

The following stories about companies within PBW seemed relevant to post. I also posted the stories on Yahoo! Finance if that is easier

- thestreet.com article on First Solar (company web site)
- seekingalpha article on PBW (company website)
- reuters article on Itron (company website)

I think the ETF has hit a gathering period. I still feel my 22-24 June spread is a good trade.

A penny for your thoughts.......dollars for our investments!

PBW's situation

Hey

PBW is continuing its way up. The 22-24 call spread moving forward. A recent article in Seeking Alpha mentions PBW.

Look to start buying the banks. The rebates are headed their way. The Fed chief just mentioned possible rate cuts again.