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Dead Cat Bounce

It appears that the S&P is going to hold major support and close above 1050, at least for today.

I do believe this sets us up for a "dead cat bounce" as all the technicals are around 10%. Now, if we can just get some good news somewhere...

Today was a good day to add SLV covered calls and to add some puts to our DIG & UWM positions. I also took profits in some QQQQ shorts that I have, still holding on to others just in case we do drop to that 1000 level.

With all decisions made, we now wait and see how the market reacts.

Disclosure: Long DIG SLV VXX Short QQQQ XLE XRT