Yikes what a day! All of my last two weeks profits officially vanished today, and I've got to be on an airplane from 6:00 AM until two tomorrow. I'd sure love to be around for the opening bell! I'm not convinced that the market's turning at this time of year. As we all know corrections are a requirement in an uptrending market... and stocks like UPS and AAPL have broken well above their channels. Probably a good time to take those profits and if they head back up... get into some Jan calls instead of the Dec I'm in now. Jeff, if you read this... when's a good time to start getting out of a call? A week before it's date? two? I'm starting to wonder how much of my time's going to start to disappear on my Dec Calls.

Chris and Catherine.

Jeff,

This is how it all began in May. One huge red candle and that was that. If today really was just profit taking or a pullback, it shouldn't have knifed through those important trendlines. Also, this was a broad-based decline with breadth overwhelmingly negative.

Also, there seemed to be no explanation for the rally since July, so everyone kept saying, "trade what you see, not what you think." The market seemed to know something else from everyone else. Well, what is the market telling us now? I think we're going to try and retest those trendlines and then we'll know where we're going. The Nasdaq is also just above its trendline. Tomorrow should be very interesting.

This may not be the end of the rally, but I certainly got kicked out of a lot of trades today and my account got killed.

I am in about 3 bear trades and about 15 bullish. Got stopped out on 2 bulls today. Looks like another 1 or 2 have gone past mental stops and will need to be closed tomorrow morning. LVS is still kicking *** and taking names. Without Jeff and Investools I would have closed out the bearish plays today and taken my little profits and hoped for the bull plays to come back.

Now I will close the 1 or two bulls that went past my mental stops, let the bears run if they are going to. Heck I am thinking of waiting until morning and adding to some Bull winners.

Just a guess, but my instincts say we will have a few down days before we bounce back. Enough that the big boys shake out the little guys and rebuy cheap. Short term the trend may be down, long term I am sticking with up. This is an emotional post, but Jeff asked for our predictions. I may sit out a few days and wait for the market to tell me which way it is going.

Stopped out of 1 today and still holding 2 winning bulls. Placed an insurnace policy hedge last week on the SPX that is just slightly up. I think we'll rebound although it may not come tomorrow.

Mark Fisk (Tplus1)

Jeff, I believe Monday was a profit taking day. I can't wait to see what tommorrow brings. I hope my gut is right.
Karen O