No Megan Fox nipples today.  So sorry.

I can tell you, however, that she is tough.  How do I know?  Because the kids today called her cameltoe, and if the vastly underrated movie The Weather Man has taught us anything, it’s that “camel toes are tough – they can walk all over the desert and all the hot rocks!”

See all the evidence right here…lovingly brough to you by Megan’s fantastically tight sweatpants.

______________

You’re back?

Good.

I was afraid that you had run oft…into the hills…seeing that 2nd consecutive lower close on the SPY.  Yeah, I know it’s weird…afterall, we hadn’t seen one in almost a month!  (You also must not have owned any GOOG stock, which saw its 7th consecutive lower close!)

Anyway…correlating with the general market action, the put/call ratio ticked higher today.  Nowhere near high enough for a contrary entry signal, so once again nothing to see there.  Moving along.

Talking my book for a sec:

• SPY RSI(3) is at 5.49, which is the lowest it’s been since March 3rd.  I say odds are pretty good for a ST bounce (think 1-day, perhaps even just hours).  (A bounce up to ~93 would let me unload my Deucey-SPY calls for breakeven/small loss.)
• KG, the biotech with 3 pending FDA action items is near 10-month lows.  Excellent opportunity for some volatility plays, no?  I was a bit early with my Jul’09 10. straddle, currently down 15%.