It's beginning to get really ugly out there... unfortunately 13 months ago when we were told "this is just a subprime issue" we repeatedly said subprime is a symptom of the problem, not the problem - it is the tip of the iceberg - we ......More here http://stocktoprofit.com/housing%20stocks.html

Treasury Secretary Paulson is asking Congress for another go at unlimited authority - only this time he has acquiesced to a budget of $700B. Paulson claims that the financial system is facing Armageddon if he and his puppet Federal Reserve Chairman Bernanke don’t get their way. They need $700B to liquefy the toxic mortgage market and calm the financial markets. More here

My trading day, short energy and long financials. And how not to get to comfortable.