As forecast, the 'Wave 3 Begins" headline. The only reason for the question market is that there is a wide discrepancy between the worst percentage down index (IYR -2.4%) and best performing index (QQQ -0.95%). A true Wave 3 down should have all indices down and down substantially (-3.0% or more). Nonetheless, it is a start and we need to be rebuilding short positions in anticipation of more downside over the weeks ahead. IWM - down 1.20% We have the Mar 17th $170's expiring in 11 days. Time to roll or add to at a minimum one of the three expirations below: Roll into and/or add: Jun 17th $170P (2.88-2.90) May 19th $175 (2.95-3.00) Apr 21st $180P (2.95-2.96) IYR - down 2.34%: Sell Signal on Close < $85.00 Option recommendation (high risk - higher reward): Jun 16th $80P (1.82-2.08) Use a -50% trailing stop IYR Jun Puts DJI - Wave 3 of (3) Begins - It should look just like this - with 5,000 points down, minimum, to go.
