JPMorgan

JPM came out with some bad news today, and it's down trending stock made new lower lows, so I took a risk and went long a put. So far it's still trending lower, and even broke through some early support.

Broken Support

The Q's continue to break all prior support and are looking to test some lower lows at the 28.90 stage. No good news out there to contradict otherwise. Charts look bad on all time frames.

I opened a small long put on the Q's at the money.

Gapping Down

The markets are gaping down as futures tumble and Asian and European markets fall in shear panic. I am looking to close out my Put positions in NOV, NE and BP this morning as they are all gaping lower in pre-market trading by about 15%.

Today is going to be another wild and crazy ride.

Long Puts

Puts on NE, BP, and NOV.

Oil continues to breakdown, a cold credit market has drilling down to a crawl. Look for poor performance among drilling contractors in Q4, as well as other service companies.

The market continues to breakdown, and I can't seem to buy Puts fast enough.