A BIT OF A BREATHER...BUT NO REAL PUSH.

So bulls finally took a day off. ERICB SS leading the way down with a slow, tick by tick descent. Worst kind if you ask me. If you´re short term (i.e. daytrading) it is hard not to take profit when things calm down, on hopes that you can reinitiate the short at a higher level. At least I got something right, since I been pleading the case for a short trade in ERICB SS. ML downgrade sealed the deal. Kept sliding in the US closing just shy above the 59 SEK level. Next week/end of year can still be quite interesting. HUGE open interest in EUROSTOX50 2600 level and this will surely work like a magnet the closer to expiration we get. Other storys to watch is a potential squeeze in SWEDA SS common stock. Really hard to borrow and inching its way above the 48 strike. What makes this interesting is pretty much the same way VOLKSWAGEN became interesting. Longs of SWEDA SS selling the stock, buying the rights to get preferred shares. Others simply shorting SWEDA SS to do pretty much the same. Well, they may find out the hard way SWEDA SS is not really the same as the preferred and get squeezed. Will be interesting to follow. SWEDA SS only bank to close in black today and financials taking quite the beating in the US probably on the back of DIMON´s comments on a possible 30% default rate on their mortgages portfolio. By the way, buyer of futures in the OMXS30 making sure the close was totaly BS in the future. Cash down 11,55 points, future down 2,75. Happy client? Think not, unless screwing up the close was his idea in the first place....