The Proshares Ultra S&P (SSO) is the next position to be added to our list. Basically, we want to add long biased positions on down days. Since the market is still somewhat weak while it is trying to find a bottom we should tread lightly here by selling half of the position today and the remaining once the SSO closes above the 8 day EMA again. The 8 day EMA is currently at $33.15. The low of the SSO was $24.01 on 10/10/08. The low on last Wednesday was at $26.20 and will be our technical stop loss. The trade is to sell 2 of the November 25 Put (SOJ WY) for a target price of $1.10 - 1.15. The initial margin on this half ofthe position is about $500 for the two contracts. The notional value is $5,000. With this amount of volatility, it would be prudent to sell less exposure. For those more aggressive, you can do as you feel comfortable.