Regardless of how I might feel about being on the hook for Freddie Mae and Fannie Mac's debt, the market responded to the news of the government stepping in with a big surge overall, but espcially in housing stocks.

If you had bullish position in PHM (Pulte Homes) then you ended up in a much better position today.

Question is, is this the confirmation of a trend or is this just a one day reaction to the big news in mortages?

Turns out the rest of the world thinks it's just a blip. The mortage crisis isn't really "solved", it just gives a little more security. It will be interesting to see how the U.S. markets react on the day after.

Not entering into any new trades for tomorrow, either real or virtual. I have just enough virtual trades to keep track of and I'm still hanging on to the "losing" side of two straddles. I also have a session with my investing mentor during which time I'll get more guidance on spreads.

Looking forward to learning more and, of course, making more.