I am going to step in and buy some…

And that’s why we don’t try to catch an exact bottom.  This market is going to have to rebuild some base and maybe even just settle down to some daily drips before we really see a sustainable kind of bounce.

This morning’s early rally obviously was not sustainable. And the highest beta — that is, the most volatile — stocks are the ones being hit the biggest this morning.  Both Marvell and Sandisk are down worse than the broader markets.  I’m not going to try to add to those two again today since I bought some yesterday.   I am going to step in and buy some Apple and some Visteon today.  Most likely just common stock in those two for now.

I also will look to sell a little more of my new Wells Fargo puts as that stock has fallen from $29 to $25 in the four trading days since we bought those puts.  That’s crazy for a giant bank like this to get this that hard this quickly after we move on it.

It’s just crazy ugly out there again today.  This week.  The last couple weeks.

Don’t let the fear and the pain freeze you today.