There could be a spike up rally or two but the trend is down for a while. Market is down 25% total but the last Bear market of 1999 went down 50%. We have more to go.

I made money buying puts on banks and selling to cash out. I also bought puts in JCP.

QSOHY - USBTD - HBCTM

We are seeing a trend brewing in the Dept Stores. I am going to buy puts on JCP-JC Penney and other dept stores. These retail companies aren’t doing well now and will continue to go south.

We should see a spike in AAPL tomorrow with the release of iPhone. I bought CALL options today when the stock pulled back. It started climbing the end of the day. This should be an opportunity for a quick profit.

CHK pulled back 9 percent today. Watch this stock and buy on pull backs. This will run back up shortly.

Sold my MEE stock this morning on the price run up. I had also bought an option call for MEE when the stock was down to 70 dollars yesterday. Nice ringing of the register today.
This is a traders market right now. Lots of folks are loosing huge amounts of money trying to play buy and hold.
I am trading individual stocks on lows with sells on run ups.

I bought MEE today on the pull back. I am a believer in the Coal sector and see this as a buy opp. I realize that there still may be a more downturn. I may buy a put to give me insurance.

I loaded up on QQQQ puts this week in preparation for Thursday.

New type of Option started trading today. Fast Money article explains

Binary options for the S&P S&P 500 INDEX.SPX
1284.91 4.91 +0.38% Chicago

Quote | Chart | News | Profile
[.SPX 1284.91 4.91 (+0.38%) ] and VIX CBOE MKT VOLATILITY IDXVIX
23.65 -0.30 -1.25% Chicago

Quote | Chart | News | Profile
[VIX 23.65 -0.30 (-1.25%) ] began trading at the CBOE for the first time on Tuesday. So what the heck are binary options.

Binary options (also called all or nothing options) are a type of trade where the payoff is either all or nothing, explains optionMonster and Fast Money favorite Jon Najarian. There’s no in-between.

CBOE binary options contracts, on which calls will be listed first, will pay either a fixed cash settlement amount if the underlying index settles at or above the strike price at expiration, or nothing at all if the underlying index settles below the strike price at expiration.

These binaries expire on the Wednesday of each month. However, they’re not knock out options. So, if you’re betting to the upside on the S&P, then the S&P has to be on your strike price or above it at the time of expiration.

The products are expected to attract a broad range of participants, including individual investors, hedge funds and institutions, who have an opinion, one way or another, on future price movements in the SPX or the VIX, said CBOE chairman and Chief Executive William Brodsky in a statement.

And if your eyes have glazed over from the explanation above just look at binary options as training wheels for other types of options.

Fast Money on CNBC tonight picks AT&T to go back up.