Another wild day. If you can say one thing, it's that the financial world is not boring these days. The markets are not in valuation mode, that's for sure. It's purely reactionary to different news items, and investor confidence in whether the government can 'fix' the problems. We know they can't, so filter the noise out and brace for more stormy weather.

The markets are closed, and although the values have been all over the map, at least we can give an update now. A +- 10% over the course of any day or couple days is fully possible at this time, but we're still positioned well, so I'm not gonna sweat it. Neither should you.

Assets
Cash
= $61,570

Equities
--> XIV -- 2000 * 10.72 = 21,440 [2000@14.75 = 29,500 ~ -8,060]
--> RIMM -- 200 * 23.12 = 4,624 [200@28.75 = 5,750 ~ -1,126]
--> SLW -- 300 * 35.44 = 10,632 [300@33.67 = 10,100 ~ +532]
--> GDXJ -- 200 * 33.93 = 6,786 [200@32.75 = 6,550 ~ +236]
= 21,440 + 4,624 + 10,632 + 6,786= 43,482 [51,900 ~ -8,418]

Total Assets
= 61,570 + 43,482
= $105,052

Liabilities
Options
--> OCT'11 SLV $35 PUTS - 30 * 2.53 = 7,590 [30@2.16 = 6,470 ~ -1,120]
--> JAN'12 LULU $40 PUTS - 20 * 4.40 = 8,800 [20@3.50 = 7,000 ~ -1,800]
= 7,590 + 8,800= 16,390 [13,470 ~ -2,920]

Total Liabilities= $16,390

Total
= 105,052 - 16,390
= 88,662 [-8,418 -2,920 = -11,338, -11.34%]

Big hit from last week, but we're in some solid trades. Even though our options are down, both are sitting outside the money, and their value is a direct result of the VIX skyrocketing. The VIX will come down, time decay will eat at their values, and we should reap the rewards. This would imply that we should sell some options here, which is exactly what I'm thinking of. However, I'm not going to be greedy at this point, I'm going to wait and see what the rest of the week brings. It'll be unfortunate if we miss a good oportunity to dive in, but ultimately I'd like to hunker down and keep some cash just in case there's even better opportunities in the next little bit.