Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

I still think that shorting here is to try and catch a top, and typically, in manias, the first retrench is bought heavily. I am sticking by my scenario of a relatively mild retrench, I don't know wherefrom, followed by a run into January/February before a grand Nassacre develop late in the winter lasting at least into April/May. Note that Max pain on the QQQ is probably around $36/7, and we are close to $$39, fuel for delta hedging late next week... and thus a spiky (up) expiry next Friday.