We have been on top of this market collapse all week with almost daily updates in both services. Call that my confidence that an important market peak has taken place and until further notice, its all down into year's end. I have purposely simplified our option trading strategies, focusing on these two positions that may be just getting started in terms of mutli-bagger potential: Off the best levels seen on Friday, but far from where we expect to be come Dec expiration. From yesterday's update: "Today's breakdown may be the last opportunity to add to positions before panic sets in. Tomorrow is shaping up to be one of those Fridays." So far its a relatively orderly decline, not the kind of manic market collapse that would signal a bottom or even temporary low is at hand. By going out to December, our bearish positioning still has six weeks to pan out, so I am in no rush to implement tight stops. At +100%, we can consider a 50% trailing stop on half the position, but let's leave that tightening as an "if and when" proposition. Nonetheless, if either the above positions' gains get completely erased by a sharp rally, consider exiting at least half, preserving capital for Round 2, whenever that may come. NVDA - Bellwether? Found support mid-day @ Parallel Channel trendline.This chart pattern is mirrored by dozens of like stocks and indices, all threatening, or in some cases already breaking below parallel channels up from April lows. Messaging is clear: Hold near today's lows, or look out below.
