I was perturbed today when I saw the Russell push above its June 2 high………..
However, the breakout quickly failed, and as we all know, a failed bullish breakout is a good sign. Out of curiousity, I laid down a Fibonacci retracement spanning October 11, 2007 to March 10, 2008. Lo and behold, today's high nailed the 61.8% line virtually to the penny!
So I am still in position on my IWM puts, and I've got a nice, clean stop above the retracement.
