Got WORKED........

Today did not finish well. And it looks like my positions (maybe all of them) are finished. Even the XLF trade has gone against me and I could lose another $1,000 there if I am not careful which would take me down to around $8,200. All I can say is thank god I did not average down in gold and double down on XLF earlier this week. I had enough exposure -actually more than enough - and as it becomes clearer that I read this weeks action incorrectly and last week's too for that matter.

The bulls are getting ready to romp and the bears including myself are being trampled. Market finished up 100+ points today which is an important and significant rebound in my opinion. The only ideas I have left at this minute - other than trying to exit my only remaining position that was left with some pennies.......are Sandisk and The9. I think Sandisk is just too spec for me at this point and I have been burned on spec during last week. If options premiums came down enough by tomorrow afternoon, I might play the game, but the implied volatility is just too high I think and even straddle will not be profitable I think. That leaves The9 - which has moved up about $0.50 from where I sold my 100 shares around $18.50. It is around $19.00. My whole thesis that I could get in cheaper as well before 11/6 may or may not come true. We do have some significant events including the Fed meeting before then - but market is also turning bullish. So basically - I am saying that I am going to wait. Thank god I kept some cash! I just didn't keep enough. Anyways enough crying from me for tonight and hear is the portfolio snapshot (DOUBLE OUCH!):

When everything is said and done I will make sure to be even handed this weekend with entry and exit charts and we will look at where sentiment changed and the major flaws in my analysis / execution.

Regards,

BG