Everything to the upside seems risky at this point. I went back and looked at 2007, 2009, and 2011 it is really hard to grasp the difference between the start of a bear market and a 10-20% pull back.

Whats your strategy right now UPB? I dont have a plan anymore and I am concerned. Would like some insight if you have any. I will check the website as well.

Selling pressure in the market right now is terrible!

Well its starting to crap out again. I hope it holds up today so we can get a bounce that is actually a bounce. Today was just intraday. I would like to see a 2 day move.

Thats the bounce we have been waiting for. Considering selling though if the run up continues to 192-193 range on SPY.

Look at the daily SPY on 10/2/14. Look familiar?

I think a lot of stuff found bottoms an hour or so ago. I think rMM's ounce play is back in action. Lets see if we close green today and have a nice up day tomorrow. After that who knows. I think we go lower.

Maybe not MM I think we still get that bounce. This was a shake out in the AM.

Well maybe I am getting that bounce right now.

Well I think we get back there but really was expecting a bounce back up to 192-193 range before another drop. Like say Monday and Tuesday Green and then drop through the end of week. That was my expectations but I may eat my words.

JB starting to get worried here. We were due somewhat of a bounce today and we sure are not getting it. I was on board with MM thoughts of a bounce back to 193-194 range before going lower. Now I am starting to wonder.

So where do we go from here? Do we move higher Monday or continued selling? I figured we would see some EOD selloff but I didnt really think it would go this far this fast.

lol...I kindof figured that after the enormous selloff EOD.

I'm sure glad I hedged earlier. Have you had your hedge yet today?
Ugly Ugly going into close again. I do not trust this market to bounce until it hits the 200 SMA/EMA. Wow!

Good luck!

Maybe but we never got back to the 200 SMA on SPY. EOD action will tell the story IMO.

Hedging my UVXY short commons with a SPY 185P Oct18 @ .35 entry.

This Volatility has created a big IV on the major stock options that we like to play. GOOGL 590C Oct18 are 5x5.6. Way to much.

This is a reminder of last Thursday.

Yes I agree. I think EOD action today will tell the story but I find it hard to believe that we wont go back and at least touch the 200 SMA on SPY which I have at 190.59 and I have the EMA at 190.09. For some reason my charts don't typically match JB's but that is what freestockcharts is showing.

Well everything will be knocking at low numbers very soon due to the market correction. Not sure it is anything other than that at this point. That is why I sold everything EOD yesterday because I believe we are about to see the 200 SMA on SPY in quick order.

I am out of everything for the moment. Yesterday was a scary sight. Not sure what to do at this point except watch. I just hate to miss the run back up but I do not think it will be today. No one will want to hold stocks over the weekend in a volatile market like this.

Ugly ugly day. I think we break through the lows tomorrow and we may see that 10% pull back.

Wow this makes you want to think that tomorrow is going to be a terrible day as well but the past few days have been anything but predictable.

We can still close GREEN! (sarcasm) but not really after the last week of trading.

I dont know but these swings are really not justified. Just fear in the market and the least little thing is creating a sell or a buy and in major proportions. Its like no one can decide if we want to do a correction or go to new highs. I definitely did not see today coming.

Wow this just made yesterday nonexistant

JB I think this is the 1 day biggest spy move upwards in more than 2 years!

Wow! Volatility is crazy.

I do not. I think it had major support at 1110 range and now that the market has bounced if it continues upward I believe that PCLN could see 1150-1200 before it see 1100 again. However, once it hits those ranges it could continue on its downward path. I am holding 1170 OCT18 calls at 2.25 entry at the moment.

More importantly PCLN looks like it may be ready to go to.

Hope your right. Tomorrow may be a key day.

Huge move up so maybe we will get the recovery to all time highs. Still holding my UVXY short commons and PCLN calls but I was sweating heavily about 2 hours ago. Feeling a little better now. It depends on tomorrow.

Well it has recovered. What your take on this UPB? Back up or going back down? What about PCLN?

Where is MM? This is his market.

Nasty looking EOD here. Wow!

Well I sold my PCLN calls at 3.20 from 2.80 so not too bad. I should have gotten out sooner. I will be looking for reentry on those soon though. I think today it will be back around 1110 range and I may pick some more up at that time. I just think we have to see a pretty good bounce back to 1170-1200 range before going lower.

There is huge support on PCLN at 1110 range.

I will never doubt you again. You are my hero UPB. PCLN reversal. If there was a symbol of bowing to the master I would insert it here --->

Just picked up PCLN. Hope your right UPB.