Panic Mode

What a crazy day today with the market. The New York Times piece on Fannie (Ticker: FNM) and Freddie (Ticker: FRE) really sent the financials and the market into crash mode. In situations like this, you have to advantage of inefficiencies that will take place. I made some gains by trading around Apria Healthcare Group (Ticker: AHG) and the financial spiders (Ticker: XLF). The market just tossed the financials out the window. With so many people bearish on the market and especially the financials, I started building a tiny position in the financial spiders.