This morning we gave you a bearish bias with the stock at 68.5 and a buy in rec at 66.25
we also noted the correct play would be to leg in on a rallies from mth short side.
The stock just hit 66.80 so my entry is not so far fetched from the buy side that is where it become s a buy short term as a nearly 5% correction seemed in the cards and lined up as support on my chart as I also said the trendline is history and has been shattered but we can't fully be in a down trend until this QE is out of the way should that go poorly for the dollar than we line up for more points on the downside. Currently we have done a lot of trading back and forth but We are holding a short contract as the call protection we put on from Friday wears thin in many securities already. Oil is leading the market down in my opinion So if it cracks the market will continue its back slide so anyone with a substantial equity position could effectively short one contract and would safely be hedging the portfolio for the moment
and drop an email chrgr06@yahoo.com to schedule
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