Looking worse day by day. An hour into trading on Tuesday: SPX 120 Minute: Wave 3 Dow Unfolding SPY Daily: Fresh Intermediate Sell on Monday's Close TLT: Take Some Profits before Wave 4? There is a reason for the question mark: I don't know the answer. Historically, when the stock market is hard down, bonds can serve as a refuge, a perfect excuse for a retracement (Wave 4 ) rally before final (Wave 5) lows are seen. Our Jun puts are +150% since entry, but still two months to go to expiration. Nimble traders consider taking some gains and re-enter on a bond market retracement rally. Alternatively, just use 50% trailing stop, currently at about +75% from entry. Gold Apr 19th GLD Calls These calls expire on Friday. Some time this week, roll over half into Jun just out-of-the-money calls, banking half of the well earned gains.
