Bailout Gets the Green Light

The White House/Hank Paulson led bailout finally pushed through Congress and it looks like $700b dollars will be targeted towards the mortgage market. The news should give Financials a tailwind tomorrow. It will also likely drop the Dollar, which will give Energy and Commodity stocks a tailwind. Gold may be a little more conflicted because money will want to flow into Gold on the falling Dollar, but money will also want to flow out of Gold and towards more bullish stocks.

I have to do the quick version of this post because I have been focused on family concerns all weekend, but here it is:

I am Intermediate Term Neutral and Short Term Bullish on the markets. Tomorrow I will be focused on Financial and Energy stocks for calls, along with DIA and SPY.

Here is a quick Bullish Watchlist:

Financials: JPM, WFC, BAC, BBT, COF, RKH, USB, STI, PNC, KBE

Energy: RRC, OXY, ECA, USO, BHI, CVX, XOM, COP

Gold: ABX

Cyclicals: KMB

Healthcare: CEPH

Food&Beverage: GIS, PEP

Also note: WY, RYL, TOL

I apologize that I haven't been able to spend much time answering comments and questions, but keep commenting to each other, as you have been, to support one another's trading. I will try to catch up a bit this week.