The Obama campaign will start a major offensive tomorrow. This is a campaign that does things in a deliberate manner. That’s a good thing. He did the same thing when Hillary attacked. Waited a bit before responding.

Key quote:

“We’re sensitive to the fluid dynamics of the campaign, but we have a game plan and a strategy,” said Mr. Obama’s campaign manager, David Plouffe. “We’re familiar with this. And I’m sure between now and Nov. 4 there will be another period of hand-wringing and bed-wetting. It comes with the territory.”

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An eyewitness report from a Canadian living in Cuba.

There’s not one province that has gotten off easy. More destruction, less destruction — but all fourteen provinces and the special municipality of Isla de la Juventud have suffered from Hurricane Ike. And some have suffered a double impact.

Ike was probably the most destructive hurricane to ever hit Cuba, because it went across the entire country for east to west.

As for the US, it now appears that the most dangerous quadrant, the right front, will hit Galveston Bay dead on. In this quadrant, the wind and waves are moving in the same direction so the storm surge is the biggest.

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How crazy volatile is this stock market? I trade stock options. With calls, you gain if the stock goes up. With puts, you profit when the stock drops. I currently have puts on a number of financials.

At open of market Monday, those puts had a paper loss of 40%. Right now, they are up 40%. This isn’t to show what a clever trader I am (because, hey, just a few days I was getting clobbered) but to show how unstable the market is now. Lots of swings both ways. However now it appears the next big leg down is happening. Look out below.

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Send your entries to my friend Mark at Walks Upright. And let’s all do whatever we can to insure that Obama gets elected.

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Barry Ritholz explains. It’s not a compliment.

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