I'm down $20k this year. I got caught holding CHINA, TSTC, MPEL when the market decided to take a dump. At least I had one decent trade on thursday - I bought 30 orcl calls and made $1400 in 30 minutes. Then I double down on GROW for a bounce and got killed. All in all, that one win is meaningless since I'm in the hole. Now, I sold out and gone cash with the exception of a few mutual funds in my retirement account. Argh, from my point of view - I just have no feel for this market. I'm thinking about going large caps - buy 100 + call options on C, GS and hope they will bounce back. Nevertheless, I'm getting spook because I think the market has more downside. Based on history - it's a good possibility.. http://en.wikipedia.org/wiki/Stock_market_downturn_of_2002 Hell, we have everything going against us .. Subprime markets Housing downturn record level margin record level debt etc..