Well, it's hardly a rout, but 100+ points off the Dow as of this writing is a nice change. My index puts (SPX, NDX, RUT, DIA) are all doing dandy.
I had a field day over the past few weeks with oil and gold shorts, and I got out last week. I've been getting back in – – in some cases, too early – – although my interest in oil shorts is much stronger than gold shorts. I think gold as as commodity could shock everyone, heading to $2,000/ounce, so I'm not getting too freaky with the shiny stuff. I do find ABX an interesting "kiss the trendline" opportunity, so I've got a small position on those puts.
The slippery stuff, on the other hand, is getting possibly enticing again.
The IWM is pretty key at this point as for the indexes. The next Fib level to break is 69.05, and that's a ways away at this point (IWM is 69.67 as of this writing). IWM is in between Fibs at this point, so we'll just have to bide our time.
