Embrace The Pain
Embrace The Pain
The ole’ buck keeps getting it up the rectum – I gave up on the diagonal as the third wave now started to stretch out longer than the first one. It was academic anyway – there’s not much difference in terms of the wave count:
The regular count still has us completing Minor 5 of (C) – and we’re now in my 76 target zone, which offers support going back to September 2008 (yes, it’s been one year). If 76 does not hold things could get ugly in a hurry as I don’t see any type of support until 72. Get ready to plunk down $4/gallon at the pump again…
We’ve also reached my preliminary 1060 target on the SPX. There is a count that sees us completing here but I frankly merely give it a 30% chance – most likely we’ll push into 1080 before the pain stops. And yes, I just bulked up on more puts – October this time.