I have been TRIMMING, TRIMMING, TRIMMING. CASH CASH CASH! I did re-enter RUT puts when the IWM got to about $70.

I must say $UTIL is so gorgeous – – Mwah! Love it!

I would like to thank my fellow blogger Andrew Crowder for reminding us all that "cash is also a position." I took this advice to heart this morning when I immediately sold two huge positions – one in RUT puts and another in OIH puts, both with profits bordering on the pornographic. The S&P 500 target of 1170 I've been watching for many, many weeks was nailed, and I got out.

Thank you, Andrew; and thank you to all the other commenters; I have gleened so many wonderful ideas and suggestions from reading what you write. You are what makes this blog great!

First up, let me say there won't be fifteen posts today. In fact, after today, get used to maybe ONE post a day (sorry!) because I'm really, really busy with work. Speaking of fifteen posts, that was a large factor in the explosive, unprecedented traffic to this blog yesterday; some surely would say this is a $SLIX reversal indicator flashing a warning!

This is what my morning office looked like at 4:30 as I drifted into it. You can't see all the charts awaiting me.

There is more than a little risk today. All the past data indicates today would be a big up day, in spite of current pre-market indications (as of now, although CPI is reported in a few minutes, and there's still an hour left for the government to do God-knows-what).

I think I'm ready for some rest. Time to head upstairs. But one last post.

This is my 15th post today.  In the entire month of June, I did 59 posts. Today we have nearly 500 comments on Slope. Plus well over 40,000 page views, which has smashed the old record to pieces. The $SLIX indicator is flashing another warning!

There's a lot of talk about the $VIX, but you want to know something I realized? Today's candlestick was white. Big deal, right? But this is quite intriguing – – in all the other big "spike" days, the candle was black; in other words, fear was maximum at the open and subsided heavily toward the close. Today was the opposite. Not only was it the opposite, but it's the only "spike" instance I see in my entire $VIX history that looks like that! Compare the candle today with what is on the extreme left of the chart, which was the mid-March BSC spike.

I usually have a ton of puts. Right now, I have a megaton. And I'd rather not have a megaton explosion under my bottom if the market flies higher. My shot-in-the-dark guess as to what Tuesday will hold is a sharp drop at the open (barring any pre-morning surprises…………) and then wild swings throughout the day, followed by a relatively tame close (not much up or down). I'm not very confident about where we're going to close, but I do feel that on a number of big indexes, we're getting near major support levels. The $NDX is one, with both fan and retracement confluence at ~1700.

The S&P is nearly the 1170 level I've spoken about many, many times. This is the 50% retracement. We're already there on the GLOBEX as I'm typing this!

I had many short positions in energy, and equity bounce prospects aside, I'm feeling pretty good about these. This H&S pattern on the $OIX is quite substantial.

I'm exhausted. And I need to be up way before the open. I'm off. Ta ta.