A ball is dropped, gravity takes over; it hits the ground and bounces, and momentum takes it upward, but the balls over all trend is downward.
That is what the markets are doing.
Yesterday, the markets started the short term trend back down, and broke prior support. The second it did, I went opened long puts on the front month of the Q's. It's continued down, and the sellers are back in control as economic news pulls on the markets.
The Q's appear to be gapping down, and the futures are down over 2%. I'm looking at downward movement today and tomorrow, and then will close my position.
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