Yes, Good Call Maybe a little bit of Pun there <GG>. We are hitting the 20SMAs that were slightly above previous support and now need to see if the SMA Resistance will send us lower or if the Support will Hold. Definitely a good time to Hedge or lock in some profits whenever the market is Holding Support and you are holding Puts. You do not want to let your profits dissappear. Sometimes that it is better to cover and lock in some Profits and miss some Potential profits, sometimes :^)
Good Luck to All! :^) PLAN the TRADE and TRADE the PLAN!
Well market didn't hit my 32.0 limit on calls for hedge and i refuse to chase as i see this bounce limited to 320ma range on indexes. could be about 12 spx points which is a fine trade if you can get good entry and exit. So now the test is can indexes get above the 20 ma and head up to 320 for failure in 2-230 window for a put entry to be held overnight. I hope so (ggg) s as long as rally here doesnt get carried away there is a good likelihood as bb pointed out that we should close at or near lows of the day. s
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