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Being long. Index funds took a hit, but it was on smaller money. I added to that position today at the close big time…I’m anticipating a bounce and thats all I’m playing for.

RUT – The RUT got spanked again…badly. It has fallen out of favor. The NDX/Nasdaq were the strongest today and I think that is telling us something. RUT out and NASDAQ in. I held my RUT calls overnight. I bought more throughout the day. I’ve averaged down to 13.3. Like I said before, I’m looking for a bounce tomorrow and I’ll look to toss my calls on that bounce. Maybe we close strong tomorrow? It won’t matter, the week is toast already.

I don’t think we are rolling over here and starting a new trend to the downside. I’m looking for a sizeable bounce. Similar to what we saw in Feb 2007, however, this time it will be a time to sell the rally not buy it.

LVLT – Got shalacked today.

ZIXI – Held up

HLIT – Did well. +3% in a super $hitty tape.

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