A new feature here - just some links to pieces we found worth reading. If the mainstream financial media is noticeably absent from this and future lists of interesting and relevant articles, well hey, that’s not our fault.

• The S&P500 just hit its 1 week, 1 month, and 3 month lows. Yikes. [The Big Picture]
• John Hussman has some good analysis of the upcoming recession and how to deal with it. [Hussman Funds]
• The current state of the major indexes; including lows likely to be tested. [Trader Mike]
• The Options Insider is an interesting resource for industry, brokerage, and other developments in the options world. [The Options Insider]
• The Ticker Sense blogger poll, an increasingly reliable contrary indicator, set a new bullish record this week. Yikes. [Ticker Sense]
• On the one hand, Lenny’s “double down until you’re right” strategy is obviously not one any sane person would follow, so maybe everybody shouldn’t be so harsh. On the other hand, Lenny’s “double down until you’re right” strategy is obviously not one any sane person would follow, so why does he have a column at TheStreet.com? [Daily Options Report]

And if you haven’t already read our article from yesterday about trading condors in high volatility environments, you should go check it out: Volatility is Your Friend.

Oh, last thing: we’ve taken on some new members over the past couple weeks.  If you’re a new member and you haven’t visited the New Member Page, you won’t receive trade alerts unless you do!