Flying!

Wow, this market snap-back has been steep. I don't think it'll last. As I said yesterday, I expect this to peak with the Dow just short of 11,000. We'll see. There are no guarantees.

Just so you know I'm putting my money where my mouth is, I bought puts on OII. Oct. 75's. Ran up $5 plus currently, but the volume on OII has been peaking for a couple of weeks, and is showing more downward momentum than upward. A 7% upward move ought to be accompanied by far higher volume if it is to be sustained.

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