Thursday, February 18, 2016 5:57:31 AM
I bought puts, for several tech reasons, in a very limited scope, for a ONE - two day quick trade, because as noted , even In a correction, especially at the start ( see 20 year monthly cross), the price can actually move up for a month or months, all the while maintains the 9 EMA below the mid BB ( the " cross" ), but that doesn't mean it WILL. So puts are only a vehicle for a cool off, with the remote possibility of the continuation of the " event " pattern I've been squawking about.
I also bought a small lot of calls as insurance
One other counter caution though, and this one is important IMO; any that are looking at Oct and seeing the glaring similarities ( the double B August - Sept) , the sudden rise, the holding of the exact same support , need t know, that if it seems that perfect, and this " must be another OCT" , will quickly learn why no two months are the same. Don't get roped on what you think will happen, as DEEJ says, because there are no two months in the 17 year history of SPY that are the same.
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