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Two Ways To Play: Paulson Doesn't Quit


Strengthen your portfolio in good times and bad.

After today's rejection of the Emergency Economic Stabilization Act (EESA), Bloomberg reports U.S. Treasury Secretary Hank Paulson said he will use "all the tools at our disposal" to protect the financial markets.

Treasury spokeswoman Michele Davis said Paulson will consult with President Bush and Fed Chairman Ben Bernanke as well as other Congressional leaders on the next steps for a financial rescue plan.

Stocks plunged the most since the October 1987 crash after the House of Representatives voted against the bailout bill 228 to 205. The S&P 500 fell 106 points, or 8.8% to 1106, while the Dow Jones Industrial Average plummeted 777 points, or 7% to 10365.

For more of today's session, see Toddo's Random Thoughts: What Does It All Mean?

From the Bull Pen: Look for the green beans in today's massive red sea. They should be pretty easy to spot. Barrick Gold (ABX) is an option. Bulls can consider placing sell stops below $35 on upside tries.

From the Bear Cave: Today's session was a full-fledged panic. Temporary nonetheless. Bears can consider an upside play in the Ultrashort Lehman 20+ Treasury ETF (TBT), once the fear subsides. Sell stops can be set near the $58-59 range.
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No positions in stocks mentioned.

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