Pullback

Indices sold off in the morning and managed to rally near the close, limitting the damage. The only exception was the Dow, which hovered around the previous close all day long, thus forming a doji on the daily chart.

Biggest news was probably the continuous sell off silver underwent. Gold and oil also corrected further.
The volume in silver and all it's derivatives is immense. These volumes are normally only seen at the beginning and the end of a trend. This doesn't mean the rally in silver is over, but one should definitely be carefull with long positions or any position all together, considering the enormous volatility now seen.

Swingtrades
I closed the remaining VIX-calls for a nice gain. I regretted I sold my ZSL-calls yesterday, and maybe buying the ETF itself was even more interesting (I bought the June-calls, not the May-calls).

Daytrades
I nibbled some AGQ-shares when I noticed a rangebound move. Although I made a small gain, it felt more like gambling and I won't get involved again, as long as volatility won't ease.

I made several trades in YM, all shorts, but with mixed results. Overall a small loss, but some lessons learned (I which I had more time to get more into detail, maybe later).

Monday: start of a correction

Before the market opened on Monday, news was spreading that Osama Bin Laden had been killed by US Forces. This caused the indices to gap up at the open, a gap that soon got faded. As a result, most indices are now printing bearish candles on the daily charts, esp. NASDAQ and the Russell 2000. This means we might get some more downside this week.

Commodities sold off, but the hardest hit was for silver. Down 6% at the open, it managed to erase some of the losses, but after the morning rally price started to reverse and silver ended the day -8.6%.

Swingtrades
I covered BIDU and SINA in pre-market, not having a good feeling about this. Very small gain here.
I sold the ZSL-calls for a nice profit, but could have gotten more out of it if I held untill the close. And there's probably more downside for silver to come.
I also covered 1/4 of my position in the VIX-calls.

Daytrades
I made a small long trade in YM-futures (mini-Dow) for a quick little gain. Covered too soon, before my target was reached. Got in 12760 after the midday bounce on support and covered 12764 and 12765. Target was 12770 but price even got over 12780.