Wow, you are good at this game, congratulations on a brilliant call.
I think 1400 will be a great short entry point. Market going up on central bank hopes, not economic reality. Earnings not doing better than expected.
Still have gld, hedged with sept 155 calls. Made good money with the july 155 calls, and still own the gold.
bottom line: this rally is suspect, with these blow off tops and gap opens, along with choppy sideways actions since early june. I would be looking to sell instead of buy. However, looks like the fed will keep a floor under the market into the election, so buy on next major selling climax, between 1220 and 1300 is best guess right now, will have better idea when the drop happens.
