RE: mikerosoft
Jump on D in the morning but only if it has dropped considerably... I wouldn't chase oil down at these levels... in fact, might be tempted to buy HOU for potential rally... say around $8 but not at $9.
I also feel that if we are trading Mar contract 'D' is the trade as oil wants to be under $40 over next week or two. Not sure I believe we go to $30 but refuse to bet on it.
HXD & HSD also look very good for day trades. Take it out at night or a rally will wipe out any gains...
Rallies can come unexpectedly... like if Bernanke gets in front of a mic and say " I have nothing further to add to my comments of a couple of days ago..." markets could rally big time. And be careful of Obama standing at a microphone and accidentally farting loudly, that would cause a serious crash. Should that happen, say Nortel 3 X and throw salt over your left shoulder.
I hate these markets but love the volatility when I finally get on the correct side of the trade.