I wasn’t going to buy until the end of the day but now with the Dow down 180 points and at key support, I am going to step in and buy some call options here. You could buy the stocks themselves but I don’t feel comfortable with risking my hard earned cash just yet. With buying calls on the S&P, I put up less dough than buying the etf outright, and I think that all we will get is a short-lived bounce anyway, so with the option I get more leverage. Why then should I buy if I am only expecting a bounce? Well, I don’t feel good about it but what good is a trader if he doesn’t act on his principles-buy at 50 or 200 and put stops below? I might burn some commissions on this trade if it does not work out, but the times to act are usually when you don’t want to act at all! Lets buy some S&P calls here, and stop out below the 200!