March 19, 2008 - 06:53 AM

Regrouping

OK, after yesterday's quote-induced debacle, I'm ready to suit up again.

I've recommitted myself to $RUT puts ($710 Aprils) with a stop at 723.93. Looking at the IWM, we have pushed all the way up to the bottom of our Rectangle of Resistancetm

I am delighted with my gains on the $XAU puts (in spite of the horrendous bid/ask - - 31.90 by 35.90 - -are you kidding me???) but I've trimmed back the position about 20%.