Hello and good afternoon everyone. As you know it's been quite a volatile day: The market started off strong but then sold off.

The Bear long was actually looking to exit mid day when the market was up, however the afternoon sell off negated that

New Trades:

SPY: Bear long 2nd entry: 10K SSO and 2 SPY Nov 18th Call options, 380 strike,  Strap 3rd entry: 10K UPRO and 3 and 3 SPY Nov 18th Call options, 388 strike

ES: Bear Long 3rd entry, 3 MES contracts. Strap 3rd entry : 3 MES contracts (not confirmed until 5 pm, I'll confirm on trading community a few min before that bar close

Other comments: 

unfortunately usually about once a year the reversion to mean systems go through periods like this where they have to scale in and take some heat before a reversal. It's never fun, it just is what it is. folks who've been here for a while understand that well, it's new folks if they came in and this was there first foray into those system trades it's hard for them to not get frustrated.

anyway looks like Bear long will be taking 2nd entry on SPY, and 3rd entry on ES. Strap 3rd entry on both. That said, my comments from other day, if you need to limit your exposure, one way to do that is picking and choosing, maybe you do the bear long entries and not the Strap etc.