What a Day!

Today I was revisited by an old friend - Never fight the fed. I went into the evening by staying short on all of my positions. I made the assumption that LEH would fall the way of BSC and the morning would have a negative open and then a recovery by mid morning looking for the Fed's interest rate cut. I was mistaken. My account was halfed today, however, I still believe we are in a bear market. The indictors still point to a downward trend. In addition, the volume of today's rally was not high. In addition, the VIX movement was very interesting. I completely didn't watch the VIX this time and I paid the price. Never again.

What a good few weeks!

My account is up over 50% since I started posting. Mostly on shorts on the QQQQ, XLF and today was C.

A good couple of trading days. I have been scalping a profits on smaller positions to take my line in large positions. I current how 35 contracts March 41 QQQQ Puts. If the charts move as they should this should break to the downside to about 39. My cost is .63 per contract.

However, my only concern is will it happen prior to the expiration date of this month. In addition, the Friday jobs number will be a major concern also.

My current positions are short on QQQQ and long GLD.