822
822
UPDATE 2:38pm EST: Watch 822 on the SPX:
I expect the bulls to mount some defenses there – probably good for a little bounce. Thanks to millingz for reminding us – I think I pointed out this level in a prior post – but credit where it is due.
UPDATE 2:56pm EST: FYI – 822 on the ES also coincides with the outside border of a 2 standard deviations band around the VWAP. However, fair value (PREM) today is -2.42, so the ES will get there earlier. Anyway, we’re getting close.
UPDATE Closing Bell: Congrats rats – we banked some serious coin today. However – before you cut your legs off let’s remember that this is only the beginning. A lot more downside to come. There is the distinct possibility of a bounce right here but that should only give us opportunity to keep loading up. You guys were great today and it seems a lot of you stuck with the plan – good show – you should be proud – this was not an easy trade.
Anyway, I’ll be in touch later tonight with a quick review.
