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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%.
Today was awful. No, it had nothing to do with the 400+ rise on the Dow. I wanted that, and I'm glad it came.
It had to do with the quotes downtime. A trader cannot fly with a broken instrument panel. Sheer hell.
I'll do a post later today. There is a ton going on.
Yuck.
The fireworks after today's 2:15 EST announcement should be amazing.
I think the 300 point rally on the Dow is stupendous. This is not a slam-dunk, but I am loading up on index puts.
It's a few minutes into the open, and we're over 200 points up on the Dow. That's fantastic.
Like I said last night, I want a rally. A big, fat, juicy one. That's exactly what we need to be able to make relatively low-risk entries. So I say, bring on the buyers!
