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Last time the volcano erupted it was fuming for TWO YEARS! So, yes, I don't expect it to cool off any time soon. This is just the beginning of a major economic disruption (I hope I am wrong). US market is ready for 10% correction: GS + volcano + Greece = good excuse for profit taking on Monday...

Thank you for the link! You made my life easier, i.e. I will not try to do LLC, or C-Corp or to ask for Mark-to-Market election. The bottom line is that I am not sure that I can qualify as a trader. I am trend following, swing trader with 6 months of active trading. I searched everywhere for the...