Nearing both the beginning of a three-day weekend and the end of an a-b-c counter-trend rally is providing for a trade management set-up among the best we have seen YTD. It is the nature of the beast (of option trading) that this is such a very difficult trade to take, but the most rewarding seldom are easy peasy. The market is literally hours and no more than days away from a reversal back down taking out last week's lows. The possibility that this reversal down may hold off until next Tuesday is just slightly on my radar. Today is likely the high for the move, or maybe a brief intra-day spike above QQQ 300 today or tomorrow, before the real price dive into June begins. TRADE MANAGEMENT - Aggressive Traders Only Triggered by a decline back below 295 (QQQ is currently 298), add to short positions upon every 10 point drop in QQQ, i.e., 295-285-275.
