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Markets Continue Their Slide: MET, AFL, SPY

|Includes: AFL, MetLife, Inc. (MET), SPY

We came to the dark side last week and picked off some nice winners along the way.  These trades were only a couple of days old but still SUPER profits!  If you're not getting the emails regularly you are just simply MISSING OUT.  There is nothing worse than having an opportunity but only to see it pass you by.  Do yourself a favor, click this link and join in our success!

Booked trades today:

# March 15, 2011
# 08:14 | Bagger Vance MET ($42.40) Sold to Close MET APR 48 PUT Apr 48 put, at $5.85 +77%
# 07:43 | Bagger Vance AFL ($48.60) Sold to Close AFL MAY 55 PUT May 55 put, at $7.70 +133%
# 07:42 | Bagger Vance SPY ($127.70) Sold to Close SPY MAR 130 PUT Mar 130 put, at $3.05 +79%

Markets were under a great deal of pressure today as the fallout from the Japan quake intensified.  The nuclear fallout and the uncertainty continues to ravage markets while fear becomes all the rage.  Couple that with instability in the Middle East countries and you really can't argue with the selling.  It became quite concentrated and intense this am, at one point there were 29 issues down with only 1 up (avg).  That is some of the worst breadth that I have seen in quite some time.  The VIX rose sharply, closing over 24 for the first time in months.  The volume was tremendous, the indices were hammered from the start as bargain hunters dipped in to catch some falling knives.  Oh yeah, the Fed had a meeting.  They did much what many expected, showing their extremely dovish side (again) with little acknowledgement of inflation (on the horizon) or the advancements in the job market.  This is a very shaky market and we'll continue to play it defensively, there could be some more sizeable down days in front of us.

The AFL trade was a great setup based on last week's breakdown.  Everything was pointing lower, including MACD, relative strength and higher than avg volume.  Believe it or not I had it on the hit list prior to the earthquake, but this only made it easier.  We took out a super gain on this one!

Hit 'em straight!