A .5% loss on the Q's today after some big movement of Friday and Monday. I'm not surprised, you are not going to see lots of sustained momentum in a primary downtrend. It is always possible that we are forming a bottom, but I can't for the life of me call one. I have friends who have called the bottom of the markets, oil, etc sold naked puts only to get caught in the proceeding plunge, fail to stop it out and end up excercised. That's not the position I want to be in.
I have put on some paper trades on the QLD, and XLF to see how those go this week, but otherwise I am taking a holiday, after which, I am going to step up my trading another notch.
Last week, E*Trade, for my efforts, offered me lower commisions. I take them gladly. Also, E*Trade is now offering access to options on the VIX and VXN, which should make for some great spreads. I am going to paper trade those this week to test the waters. Look for some of my plays to come, and happy tradding.
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