EDIT - Don't ever say we here at Running of the Bulls won't admit our mistakes.  That's one good thing about authoring a blog, you can learn from others.

My post below is wrong.  This was pointed out to me by Quarrel, who posted in the comments section.  This is what Quarrel wrote

The ETF provides twice the inverse daily movement.

This is very different to twice the inverse monthly movement.

Today was an amazing day.

I truly did not expect the house to kill the bailout bill.

Neither did the market, as the Dow dropped 777.7 points, the worst one day decline since the 1987 crash.

The leaders of the country played a stunning game of political brinkmanship, with the majority of Republicans voting against the bill, in part due to a stridently partisan speech given by Nancy Pelosi.

The House killed the bailout bill.

Wow.

I covered a small portion of my shorts this afternoon but remain heavily short.

Friday was the tenth day in a row when the VIX closed above 30 when it closed at 34.74 on Friday. 

We went through this once already.  Maybe they can cinch the deal a second time.

From The New York Times.

From Tom Toles, my favourite cartoonist.

Its too risky, apparently.

An older post I stumbled across from the excellent Worthwhile Canadian Initiative whose author is a progressive himself.

Some Democrats want to tax trading.