Market summary today Monday April 20th

Well you can't say I didn't tell you this was coming. The Dow was down today 290 points closing at 7,842 wiping out all the gains of last 2 weeks and all in just one day. The ETF, TZA, rose today 15% or almost $5/share to close at $37.70/share. I was announcing I was buying TZA on Monday April 13th and again on Thursday and Saturday. Some have asked me today, if it is too late to get back in. If your asking me now, why didn't you listen to me last week? It's a legitimate question. There are ways to get the answers you seek. Check my track record here. Go back and look at when I bought and sold. See what I have said TZA could go to and ask yourself if I would sell my shares now that the stock has risen? The answers of what I think will happen with this one has been documented.

Those who sold their Citigroup and MGM recently are most happy today as Citii, symbol C, dropped 20% to close at $2.94/share and MGM closed down 20% to $5.02/share. The Banking Index FAS dropped like a rock today closing at $6.56 for a big 30% drop. I said I thought it should be sold back when it was $9.75 on last Monday.

The VIX closed at 39.18. I suggested this Index would go back between 40 and 45 in my post on Saturday. The Put to Call ratio closed at 0.93 today.

Oh, to answer the question raised earlier, I think it is not too late to buy TZA. :)