Trade Update

We sold our leveraged  long oil ETF a few minutes ago for a nice 12.5% gain. Oil jumped to $30.00 despite negative news. The pop was not big enough for us to think it bottomed. If oil starts to break 30 or gets close to $25.00, we will reposition. We used some of our profits to reposition in the leveraged long volatility trade. The market bounce was not impressive at all and we think traders will sell going into the weekend as the public reconsiders their 401k losses and call their advisors.