I think if's better that you start looking for your own burial site because I fear you'll otherwise get buried alive by next Monday (3 day rally). But good luck all the same. Or, if you're like me feeling just disgusted of this whole thing, stay out of the market altogether. Remember, they (as in Uncle Sam) have an infinite amount of money; you don't. Moreover, they can bend, if not change, the rules; you can't.
I have learned to keep my prejudice and feelings out of the market when its going against a trade... When the trade is working out those feelings just make the whole thing sweeter.
It's illegal to short 799 financial stocks for the next 10 days, perhaps extended to 30 days. OldTrader
Are you suggesting that banning short selling is a "solution"? Their objective, in my opinion, isn't to find a solution than to stick their head up their ass and hope that the problem will just go away. You may also rest assured that the government will eventually need to expand their ban on short selling thorughout the whole stock universe and here's why. I feel that our entire economic infrastructure will be jeopardized by the mistake of this administration's insanely irresponsible approach to bailing out those idiotic banks. There will be a spillover into the rest of the economy should this bailout fail. If that were to happen, the whole economy will simply freeze and the stock market will, of course, TANK!
They've effectively ruined any semblance of integrity the market may have had. It all feels phony right now.
This is a terrible day for the markets. If you were lucky to be long, realize it as that. It is sad that good traders got blown out because of this. I believe we are just delaying the inevitable.