Sweeeet!

Once in a while we get a setup that is just to sweet to pass up. It’s got the word ‘sweet’ tattooed all over its ass.

Now, if I just could remember where the heck I parked my car…
[amprotect=nonmember] Charts and commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.
[/amprotect] [amprotect=1,9,5,2]

And there you have it. Seems that our resident convict’s wet dream is becoming a reality. Of course the day ain’t over yet and we still may plunge away before the close. But if we paint an inside day on the SPX then it will be my duty as a market megalomaniac to get positioned. Which direction?

Both!

Come on stainless steel rats – you know the drill by now. Get long on breach of whatever will be today’s highs and short on breach of whatever will be today’s lows.

That’s it – easy peasy lemon squeezy. Only caveat – if you play long options make sure you are vega hetched – meaning dip into some type of spread. To the downside you will love the explosion of vega should we actually take out last week’s lows.

These are the types of setups we all live for. Now get busy! I want to see charts, trades, spreads, hapless victims, the works!

Cheers,

Mole