OPTIONS TRADERS CO-OP

[gdl]

Tip off that this was going to be a do-or-die day.

The typical drop like Friday in this long bull trend ONLY had a ONE DAY drop followed by a continued rally. The numerous short and intermediate bullish candlestick pattern indicated the big D-Day battle was here. if the option bias wins out we should resume this move higher. if it breaks it should do so in style, completely.

My best guess, the longer the slow drop occurs today with smaller attempted rallies in between the greater the chance of a cascading event.

I should have sold my remaining 272 Puts with the other 200 but i have a setup in my head that i just can't break. That setup does not allow for a close higher today. It also should be near the lows of the day to setup for a really big fall tomorrow.

As of 12:50 the move is so so quiet and controlled. In other words most will assume the BULLS are in control and rightly so. Me, I am a bit crazy when i predetermine how moves should "look". It looks ugly for the bull here IMO. A violent unexpected drop like Friday's should by now show a steady slow grind up. Perhaps it will.

I talk this out and use it later (IF) my bet went crazy wrong. I can't argue with my own thoughts at the time, can I?