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06/26/2008

Dow Approaching 38.2% Retracement

I have been relatively ham-handed this morning. I've got a ton of profits, but I bailed on my $RUT puts about $5,000 too early (e.g. left money on the table). I am, as a bear, nervously watching the $INDU (which is at new yearly lows this morning) approaching its 38.2% retracement level. It's a fantastic morning, but it's unnerving.

It's especially difficult for me since the $RUT seems to have plenty of downside left in it. What to do, what to do!!!

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