Another Doji Day
I slept in with too much margaritas and buffalo wings last night… and it looks like I missed a great short opportunity.
After all, today is going to be another doji day. I would have to say that the market has been very precisely closing right around 1030 level for the past 5 days, and I’m expecting the same type of price action for another week before it finally rolls over, as I discussed in my posting yesterday.
In the mean time, the market gives us an opportunity to make money in both directions with a wide daily range, so let’s make some money! We are getting very close to the top!
Here is a chart that I posted back in July and it looks like this pattern is working out quite well, so here is my updated three drives pattern.
Good luck to you all!
11:40am EDT: Mole here – I actually woke up early down here in San Diego and added more puts right at the top. Then I went back to bed for and just woke up to nice green shoots in my account – perfect