Anybody want to get their ass kicked in Sea Battle?
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Let's call this the Bullshitish Scenario
I'm still sticking with this with a target of 1036-1058 [ 1, 2] , (Edit: Dow 10k is what I'm really looking for) maybe peaking in the first week in Sept. Perhaps down this week followed by another squeeze post expiration. This is just one way to get to 1036...Newman wants to give the sideline money a chance to scoop up 100 S&P points before they promptly take that by chain-selling everything. The bear case is not getting back above 1000-1006. From there I would assign 930 as the bearish price objective.
I'm only up to 40% of the total desired contracts of the SPY DEC 95 puts. Depending on how things ebb and flow I might sell to open the SEP 95's when it gets down there.
[update 18/Aug: With 879 maybe the bottom of that mini-leg nothing significant changes, just shifts those numbers higher a 9 points or so. 956 perhaps as the low in this scenario. Doesn't mean it has to follow it to get to the target]
