Smack down!

Well, guess bears finally decided that they have put up with the arrogant bulls long enough! However, I wouldn't bet on an easy victory by bears just yet, in fact, bears have to push the market below last week's open/low by the end of Friday in order to have any possibility of cap the multi-week rally that started in the Mid-March bottom. For aggressive bulls, maybe it is worth a shot if the market gaps down/spikes down big tomorrow morning; aggressive bears, on the other hand, can take their chance if the market gaps up/spikes up in the early going tomorrow morning. If you are a sheep, sit tight is the best thing for now.

I decide to go easy on straddle plays for the time being while trying to spend some time to really research the issue until I have a quantitative understanding of all the moving parts as well as the potential edges. On the other hand, PCLN keeps flashing in front of me, hmmm