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Being Short. I tossed the index funds and the put options this morning near the lows. Seing up a 1% gain in the 2x beta funds and 18.5% in the QQQQ put options overnight. Its a good thing I sold because at one point near the close the options actually lost money on the day. They were up as much as 40% early in the morning pre 12pm runup. After I sold I felt like I did it too early, and I did. There was more to go to the downside and that would’ve been a better place to dump.

I bought back the same put options in the Q’s near the close for a great price. 3 cents higher than yesterday’s buy. I actually could have gotten in for the same price as yesterday, but I did a market order instead of limit.

NEXM – Had a nice day today making my position profitable again. Up 3% including the add on I did today.

QID – Up .11%. Nothing to be happy about. It was 2%+ near the lows. Welcome back volatility baby!

Three things for tomorrow that could affect our markets.

1. The weather in the Persian Gulf. There has never been a cyclone of this magnitude and its heading right for the main oil shipping lanes. Yes its been downgraded, and all the media are saying everything is cool and it won’t affect oil supplies. We’ll see.

2. European Central Bank expected to raise rates tomorrow.

3. The Yen. Eric Bolling talked about our dollar rallying and that Yen hasn’t and its likely to start rallying to play catch up. Remember what the Yen carry trade did to our markets last time around? If the Yen rallies and the US dollar falls that could be the setup.

Now I’m really talking about 3 things I know jack crap about so take it for whats it worth.

I’m just looking for some more down move.

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