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Regular readers know about my "premature anticipation" problem with SDP, having closed it out at a nice profit and then watching $140,000 of additional profit accumulate that I missed. I have not "chased" the $UTIL all the way down, but I think it has reached a point of reversal, so I'm going to ride it up. The lines you see emanate from 1942!
I have been selling puts and closing shorts as fast as my fingers can type.
We hit the 61.8% retracement fan line from 1932. I'm buying, people.
You'll have a better trading day if you relax and laugh a few minutes.
Up at 2:45 a.m. to prep myself for the day ahead. The international markets are completely trashed, and our own futures markets are down 30 points on the S&P as of this writing.
Adjectives are starting to fail the media with respect to this brutal meltdown. The vast majority of people don't know what hit them. My fervent desire is to ride wave 4 up on the long side and be ready to re-enter shorts at about Halloween. Maybe I should dress up as a bear this year.
Good luck, everyone.
