The markets have been a disaster this week.
One day we’re down 300. The next we’re up 250. And then, as we’re seeing today, we’re down another 250.
No wonder investors — and traders — have lost their minds this week.
I’m pretty sure I’m balding from it myself.
While I believe the Dow could pull back to its 200-day moving average at 17,267, we need to be a bit cautious here.
At any time, the bulls could ramp the market back up on absolutely nothing, as we’ve also seen this week.
While holding all other open trades, consider selling to close half of the DIA April 179 put for good gains here. Hold the second half going into next week.
Ian L. Cooper
Forgotten Profits