S&P should see some buyers around 1250 since it bounced off that number last time. It will probably be around October and S&P at 1100 before the market bottoms.

Latoboy, if I were you I will stay away from options. Most of the options buyers lose money. I have bought options at times but have lost money on 90% of those. There is more to options than just making directional bets. Just stick with stocks. In a prior post you mentioned that you had SDS and QID, those are doing good. Concentrate on making consistent money and learning the market action first and once you master that then it will be time to start making big money.

One of the best examples is ROYL. My goal was to make few points and when I got that I got out of ROYL around $5. It is currently trading at $12+. The big money is made by riding the large trend. I had suggested Darvas book and how he adds to a position when they move in his favor. If you had applied that principle with ROYL that one stock would have given you good enough return.

My guess is that in about 3-4 months, this bear market will end and there will be lots of opportunities. Save your money for that day. I will let you know when the day comes.