Beat It

Say your kid says I'm gonna flunk algebra, but shows up with a glowing D+ instead of the feared F! Oh you'd by him a new bike right? Well that scam plays to a friendly audience on Wall Street TV and Bloomberg. If you still don't know that the financial media are the Street's whores just look at Bloomberg trips over itself to tell you the Goldman Sachs (GS) and Lehman Brothers (LEH) lost half of their income, but beat the estimates. Well now we know whats important to Bloomberg, but not to me if I'm a share holder. Kinda gets you thinkin who's side they on, don't it?

Oh yea the rally today, well did notice yesterday Paulson and Bernanke (Plungers) stroll out of the White house Just before the rally. I have said they will give up 12000 on the DOW only in death, so they are still capable to manipulate the stock market. Even with the VIX at 32 I don't trust this rally. If I could see some capitulation I might buy into it, but not yet. The Bear Stearns style options activity on Lehman out of the money puts shows me a safe play. Buy some contracts of Lehman Brothers April 2.50 puts at 0.15 symbol LYHPZ