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Wow! I'm the best “contrarian” indicator there is… All I had too do, to get this market to sell off, was give up!

Dow Drops Over 100 After Portugal Downgrade

Think we still have a lot more downside but cover some just in case.

What's the odds of this move continuing down, and closing lower by the end of the week? The reason I ask is because my put spread is about even now, and I'm thinking of closing it, but if we continue falling throughout the week, I'm staying short.

I just sold my VIX calls. Hanging onto my SPY puts with an order to sell 1/3 of them soon.

what's the media using as an excuse for this harvest of speculative capital?

there's the higher high on the $VIX

Well that move in the VIX happened faster than i thought it would! Unfortunately, my calls don't move up at the same pace.

Thanks for the update Jay…

I sure hope you are right. I'm growing more and more gray hairs everyday, waiting on the “correction”… but it seems to defy logic, and gravity too!

I hope you got you troll problem under control on your site. I've been pretty lucky not to have any real issue with them. I know it sucks when you work so hard every day, just to help people out… and then they bad mouth you!

I guess they think you are perfect, and will get every call correct… and that you will give them those calls for FREE! LOL! If I was that good, I'd damn sure be charging for the information.

Anyway, nice to hear your thoughts and forecasts.

Red