In which direction are you positioning yourself for the next 10% move, either short term or intraday?
Were still in the same move aren't we? There has been two multi-day pullbacks since mid March and they were both shallow pullbacks. It seems to me that were in the same move since mid - march. The low of this move is about 7500 on the Dow and today we've closed about 9030, which represents a 20% move off of the lows. So 10% up/down from here represents approx 10000/8100 range. Pesonally I'm not sure. But a straddle is starting to look appealing at this time.