SMH, and SOX http://www.marketgems.com/klaxbub.wav Our SMH puts doing nicely. Now when traders thought the AMAT report would be a precursor, catalyst and a shining light on the resurrection of the semis, all it was, was the last flicker before the candle was snuffed out. We did get about 250% on the AMAT calls but it was the puts move from $0.10 to $0.80 that surprised us the most. New put positions (march) as well as intraday permanent SHORT LIST (which really means we look to short rallies or just short at key reversal periods rather than search out upside) established in SMH, EBAY, SNDK and holding off with ELX and NVLS and YHOO since we pretty much got target and NVLS did move up a bit today.