In my opinion this technical bounce doesn’t carry much water. The stats are quite interesting though, the TRIN on the NYSE ended at 0.19. The QQQQubes were up 2.71%! and the volume for the $indu was significantly lower than the red days prior so with tomorrow’s options expiration I’m expecting a moderate day and possible small gains. I sold some calls on TIE playing tomorrow’s expiration. Seeing metals up 20% in 2 to 3 days is asking a little much as far as a healthy reversal is concerned. Whiplash tends to keep people out of the markets as they wait for more comforable settings.  To me it seems much of the options’ underlying movement occurred today. The $vix ended down 25.91% but still significantly high relative to the bull-run from a few weeks ago.

Frank and I have put off our virtual ETF but we promise we’ll get on this soon.