Arik,
I vote your post (27705) as the B.K. post of the month, and will not only use it in my strategic planning, but wholeheartedly endorse others to do the same.
You are correct in that you cannot rule out the 2 of 3 of 3 scenario until Wednesday's high is convincingly taken out. With the possibility of the 5 wave completion, as mentioned in my post, I elected to "punt" (still with nice profits), but will go back on "Bear Offense" if 995 is taken out below, and will bring back the heavyweights if 975-981 is violated, per your scenario.
In the meantime, I'm not getting burned by Sept/Oct option premium loss, and I get to have a light-hearted weekend for a change. A welcome relief to a combat weary soldier!!
Regards,
David
P.S. Thanks again for your very well thought out and researched post, the most valuable one anyone could examine this weekend in preparation for the week ahead! |
