"VL, you seem to know alot. Maybe you could explain for me how obama is going to grow this economy from the middle class out, like he said in the second debate?? Not sure how the middle is going to create jobs?? Please inform me with your high IQ."

Commonsense. If Obama continues the job desert for middle aged former middle class, they become a guaranteed liability in less than 10 years. Add the SSI deficit and the huge gap in competence created by corrupt hired-in executives and filthy scum Board directors. As a bonus, throw in the terrorist level politics of Republicans. These make one huge mountain of problems. BUT, if he has a cooperative and intelligent Congress, it will abolish The Tax Reform Act, The Gramm Leach Bliley Act and the Federal Reserve Act. This creates a void because hired-in management can't perform without collusion in the financial sector, but the mass-terminated former career people can. Hire them back by eliminating the hired-in executives and using those ridiculous compensation packages to fund the recovery. Once in place, begin placing the younger generation workforce as team players. Spike gas to $100/gallon but roll out mass transit and begin shifting to a self-reliant infrastructure and society. Simply... frown on exploitation, support intelligent design shift and alternative growth. Segregate money touchers. If multiple entities handle your money, they're more likely to expose corruption. Tax the HELL out of investments and gains that don't recover and sustain America.

What we need is a limit on the terms of every nationally elected office position. Change the House term from 2 years to 6 years. Limit the Supreme Court Justices to a 10 or 12 year appointment. Limit the President to a single 6 year term in office. Senators remain at 6 years. Then allow for the ability to throw the bums out if they are caught with their hands in our pockets. No exceptional retirement  or health benefits... just like the rest of us.

In addition, change the tax code to a VAT system where anyone that buys anything pays a tax to support he needs of the country with no exceptions. Do away with the IRS completely other than just a handful of independent accountants to collect the VAT taxes due.

Otherwise, no matter who is elected, they just get rich and forget about those of us that put them in office. Corruption takes over due to the senior members (some, not all) of Congress guiding the newly elected on how things are done behind closed doors.

The corruption has to STOP!

Today was an opportunity for me to buy back the SPY Nov Calls I sold a few weeks ago. 3.56% gain in less than a month vs a 3% drop in SPY… I’ll take that every time.

That said, I’m not all doom and gloom like a lot of people seem to be. I also took the opportunity yesterday and today to add a few more put spreads and deep in the money calls into my portfolio. I know news has been bad and there is a lot of uncertainty but seriously INTC, CAT, MMM, DD all with P/E below 15x, some below 10x. That is nuts. Their yields alone almost justify the prices they are at now. Meanwhile you have companies like FB (P/E ~50x) and LNKD (P/E ~250x). It is like the market has gone dot com stupid again. There is no logic in the pricing in this market. As bad as things are, fundamentals still matter. There are lots of good deals out there.