Pathetic bounces on the indexes... so far.
If we can't strongly get back to above 244 on the SPY
over the next 2 hours I will look to grab a
couple of Aug 25th puts (242's) during the last 90 minutes...
Somewhat of a portion buy for next week -
If we launch on Monday and Tues, $150 won't
be too painful.
IMVHO, the stage is set for more downside -
the SPY may look to quickly try to catch up to
the downside IWM has already put onto the charts.
Gotta remember the 1 and 2 year charts and how much we're
climbed...
If we do find strength and find a way to get back above
244 and next week get to 245+, I am also looking at
Sept 15 SPY puts, in the money positions (246's)
depending on the strength shown, but I think we have more
downside over the next month, based on the damage done and
lack of a bounce so far... put 1 or 2k into the position.
