That sound you are hearing is a whipsaw. Kind of like putting your left hand into a blender.
Fortunately, I always have stops in place and I always use options so that from day one I know my exit strategy.
There are 6 trading days left on the Nov options. I am going to hang on to them because they are not worth exiting. Monday we may come in set up for a sell off, but I honestly doubt it. Grains were set up for a sell off, and they have rejected that down move. Facts are facts.
The Dow shorts have all been exited. We are going to get a chance to sell back into that 13,600 level for a third or fourth time. I’d have resting orders to sell it up there again. Its worked for 150 to 250 point scalps over the past 3 weeks. I’d try it one more time.
I’d also be very very careful about staying short too long, much past 100 or 150 pts past 13,600 in the December Dow futures.
I have to be honest, I really thought the beans were going to get run down to $14.50 or $14.00
Looks like these funds are going to dodge a bullet once again.
The break will come. But I don’t think it will come until the November options expire next Friday.
I have seen this movie before over the last 21 years.
Opinions are only worthwhile if they are profitable.
CER