What a stretch.  After struggling to go lower, stocks got short-squeezed back to unchanged in the final hour of the session. (Incidentally, the day’s low was a nearly exact hit on the ‘D’ target of a pattern on the hourly chart.) To paraphrase Yogi Berra, it was deja view all over again — for about the hundredth time.  Fortunately, we had profitably covered all but a single contract of the short position we’d established on Friday. Profit taking has raised our cost basis to 1177.00 (basis the June contract), implying that even if Mr Market does his very worst, we will come away with a handsome gain. Having rolled into the June contract yesterday, let’s set a stop-loss at 1151.00.  This is slightly below Friday’s peak, but just above a look-to-the-left high whose breach would be telegraphing a breakout. ______ UPDATE (1:01p.m. EST):  We covered at 1151.50, realizing a theoretical gain of $1275 per contract.  We’ll continue to short this silly bear rally whenever a similarly juicy opportunity arises.