Not much to say today except that it was a very bad day to be a bear. Mr. Bernanke stepped up again and with his words helped the market move even higher. My puts are suffering, and of all of my numerous put positions, only DF is currently profitable (and that's only good for a week of groceries). Unfortunately, as the market continues to move higher, the red in my account grows.
My only solace is that I have seen these type of violent moves before, I just hope this one isn't the "real thing" that some bullish analysts are calling for....The S&P did smack up against 800 and fell away, but that's about the only glimmer of hope I saw today for a bear.
I am trying to hold tight on all of my put positions because I know the market will not go up forever, but its tough watching the market go against me the past couple days. I will likely have to sweat it out during the rest of the week, as options expire Friday, and hopefully we'll revisit some downside next week.
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