A lot of the internals are also pointing out for few weeks here to a bottom like late 02, thus my heavy exposure, though at few spots, quite painful. Just reestablished second JCOM here at $25.10, and sold AMGN at $56.63.
JL- Maybe a bit of both... 2:22 effect, going green? No IMTO Puts and shorts lately- open at ask to get any size, close at bid to exit position- spread= 8%+ -- one better be right AND trade in/out of position well intra day. -- NOT seeing signs of aggressive put or short activity since there are often very few open contracts on stocks in multi-week free falls -- Concerned that indices (until NAZ recently) haven't shown any signs of capititulation... I'd have barely made anything being short the QQQs or Dow (still over 10000!!^*$*&@)