Trade
Roll down VLO Valero call
Buy the 57.5 sell the July 55 calls
More damage control as the market turns against me. I wish I had done more selling. It is not pretty by the close of trading. Sure is tough being a new Fed chair. Bernanke has his work cut out for him. Right now, the stock market has learned to fear his remarks. It is useful to remember that investors are only one constituency, and a rather small one for a Fed chair. While I don't think Bernanke wants to be remembered for causing a crash, he only has half an eye on the market.
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