11:03AM Thursday, Sep 4, 2008
YMU8 11315 last.
Strategy: Market is bearish. SELL RALLIES of 50 pts.
Call buyers are active and VIX is moving up sharply (now 22.88) today.
50 pt rallies should be sold, use a 40 pt stop. Calculate the 50 pt rally from the lowest low of today's decline.
Cover after 3 hours from the time you fill, or at the close, or trail with a 60 pt trailing stop from the lowest low after you fill.
11299 is the low for YMu8 today. Sell at 11349, stop 11389.
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