Put Option Contingency

Get ready with your symbols in the assets you might be interested in as far as entering puts. In two posts today I mentioned and then described in some detail what an intraday bounce would look like, what would trigger it and that I think it's a pretty decent possibility, depending on how visible this week's up-trend line break is, you can find the details in this post from this afternoon, Market Update.

I can't say 100% that we get the kind of move that makes a put entry worthwhile (discounted because of a bounce with confirmed market weakness), but I intended to set price alerts as I thought it was a pretty high probability. This is all within the realm of head fake moves and taking advantage of the predictability of technical traders, luckily we can use it to our advantage.

I wanted to give you an early heads up as I see some signs that this might be coming so you'll be able to set up the symbol/tickers you are interested in.

As far as the leveraged inverse ETFs entered, SQQQ, SRTY, FAZ, this doesn't effect position management for me at all, in fact if you're not a fan of options and were interested in any of these positions but didn't  want to chase them as they have started working, then this may be an opportunity for you as well, a second chance.

I'll be putting the charts together that show a probability that is growing, still not a strong probability, but based on our concepts alone it is a probability.