Put trailer on and just stopped out for +11 points on YM. I will be looking to renenter short at around HOD if it gets back there. EDIT: Order to get short again at 13663 on YM, lets see if it can get filled. Edit2: just got filled.
A few points above the 50% peak to trough retracement here. I don't watch it, but it'll be interesting to see if we lose steam here. I assume we'll drop after Bush the Chimp does his bobble-head. We need more entre-manures!
retesting HOD at critical resistance... 1502-1504.... Great place to be on the sidelines waiting to see if the market can pop the stops, selling comes in and get on board with a tight stop and let it rip to the downside.
Yes, I considered short gamma, but passed because VIX is now extended to the downside (significantly under short-term average); and, consequently, if I am right, the vega will pick up on the puts. I bot some at 50% retracement (1499.50). Simply put, I prefer options for intermediate-term moves (2-5 days); I prefer using the futures for daytrading.