Boo

Markets are getting a little October scare the last few days - an orderly scare but hey beggers cant be choosers. I have been reducing some short exposure and actually added a long today, Private Bank - chicago based bank thats down over 50% in the last 3 days - and last night sold almost 20 million shares in a secondary offering at 8.5 - I got a little on the offering and added more in the open market. I remain immensely bearish in the longterm but am lightening up here on the bearplays a tad...Im doing this via buying call premium - so in case the downmove keeps going I will still make money. I have to mention that AMZN in my opinion is teetering here on a ten dollar smackdown...(121.48) its soooooooooooooooooooo overvalued and momo stocks are getting ruffed up a bit - this one will not be immune in my opinion.

By the way a few more days and Starbucks will have those red cups - feelgood.

JB