sp'15min
Summary
*Current price action looks particularly bearish, and with the weekly charts flashing a provisional warning, I'm considering picking up a SPY put block...to chase it lower - on the current bounce.
First downside is the key 1835/30 zone, where there 4 aspects of support.
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Typical afternoon turn time is 2.30pm..so..lets see if we can claw to 1860 or so..at which point I'll probably pick up a Put block. and will hold overnight.
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The action in the momo stocks remains amusing, and it is something of a mini crash day for all of the usual suspects, NFLX, -8%, FB -5%, TWTR -5%.
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...standing by for 2.20/40pm...typical bounce-conclusion time.
2.07pm.. sp'1858....getting close..2pts or so...with 23mins.
2.15pm.. 15mins to go...still 2pts...
2.26pm.. 1856....hmm.. 1860 is just about viable...but it remains a weak market.
2.30pm.. times up...standing by ..to pick up a put block..from 1858/60 zone. I don't expect 1862 or higher.
2.33pm.. SHORT from sp'1858, will hold overnight...seeking 1845/35 zone tomorrow.
so..I'm holding a core SDS block...and now a secondary SPY put block.