It was one week ago, on Feb 21st, when I devoted Into The Close to what I described as, "ominous breakdowns," in multiple stock indices. The worst of it was highlighted with this chart of IWM: That turned out to be prescient, as we bring IWM up to date: Free fall or zig zag, lower prices into March are on the way. The market has a tendency to shake out positions before the real move manifests, or maybe this time its different and there is no zig as a more immediate waterfall decline takes everyone by surprise. In any case, I would be remiss not to warn all that in a market panic or crash, it would be in your best interests to have some downside skin in the game, i.e., holding some of the positions below without a stop. I'll leave your personal money management to yourselves...and/or inquisitive, if not vocal, spouses. More tomorrow in our Weekend Update. Into The Close: Updated Options Note: The ultra-leveraged SQQQ option has tripled while the "just" leveraged IWM option has doubled, performance as expected...but perhaps, just the tip of the iceberg of what the next few weeks have in store.
