*SCALPSWINGSTRADDLE*

[leemalone2k3]

Well none of us knows whats going to happen, but I am positioned with bullish to neutral vertical spreads. I think it climbs at the open for 1/2-3/4 of an hour. Then if sellers show up enmass again, I am closing the short sides put spreads the long sides of the call spreads (or adjusting from a bull call to a bear call spread). If this reaction is indeed done and sellers dont show up, I'm holding the bullish spreads.

I think we see some great trading opportunities if volatility can stay in 5 point area and will probably see lots of choppy movement.

Everyone should be very careful trading large positions at this time. While you can make a killing if you guess right, the risk is so high that accounts can get wiped out quickly. Keep on your toes and be ready to execute at a moments notice. Lots of people will be shaken out of their positions while trying to protect their principle only to see it go their way after exiting.

Try to hit the singles now instead of home runs. Keep the probability of a winning trade in your favor or sit out until you feel comfortable and mentally agile enough to play.