Owning puts today was horrible. As we get ready for Monday's big announcement it looks like the shorts keep covering and the market continues to move higher. I have seen this before though, and am playing this bounce like I have others.....

I just purchased SPY APRIL 85 PUTS as the S&P is reaching some overhead resistance at 880. In my experience in this bear market, the best time to purchase PUTS has been on days like this, when it hurts the most.....Let's see if this keeps working.

It has definitely been a tough 2 weeks being short this market, but I anticipate we get a sell off after the government finally makes a decision about toxic assets and stimulus and the bad news keeps on rolling out....