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Lady Fortuna smiled on my little world yesterday, as the order I entered (at 6am, before work) to sell at 150.50 on the SPYders was just barely triggered before the afternoon failure. The folks around work had to put up with my doing the Snoopy Dance.

That long entry was originally triggered a few days ago, as documented in this post. I actually added some calls Monday, after the buying surge following Friday’s drop. Those calls were up an obscene amount when they sold, but I’m not titling this post “How To Make 400% in Two Days” for a couple of reasons. One, I’ve been in this game long enough to recognize that quick gain for what it was: pure luck. Another, it would drive my traffic up, but only with rubberneckers, so it would hurt my conversion rate

Where does that leave us tonight? Well, we took on a handful of puts at 10:00 EST this morning with a little of that windfall (I was off from the ICK! regular job today). They’re pretty far in the black, another visit from Lady Fortuna, and I hope to scale out of them somewhere below where we are now (today’s close was 145.39). But that’s just the myopic trade. Here’s the big picture:

Based on my current RSI(4) method, a close below 144.10 will trigger a setup to potentially get long the next day. That is, as long as it’s not too far below 144.10, like down in the mid 130s. In that case, the long entry will be on hold, but no worries, the puts will be fueling the Snoopy Dance.