holy crap I was razor sharp today, got out my long C positions at 5 and hit the FAZ top of the morning. wow talk about precision trading. market is way too rich for the current state of economy, 8000 to 8500 is fair value...factor in the historic bear time of the year....all in all, nothing really has changed from start of year to now. the bank's current business model is broken, they can't lend for the very thing they need to sell (real estate) , they can't make money because they don't want to lend. I think a FAZ double is very very possible here.