We’ve enjoyed one heckuva ride from Monday’s exact low, and the single contract we still hold is showing a theoretical gain of more than $2,800 at these levels. The futures took off yesterday after narrowly missing  the 1157.25 stop-loss I’d advised, and they never looked back.    Now, the 1175.75  rally target we’ve been using not only remains viable, it will be an enticing place to reverse our long position and go short. However, you should use a “dynamic trailing stop” between here to the target, shrinking the original four-point trailing stop so that you are never risking more than a third of what you stand to gain if the futures reach our target.  Based on a so-far high for this rally of 1170.50, that means your trailing stop should be no wider than about 2.00 points.  If shorting at 1175.75, which I am explicitly recommending, use some of your profits to cushion a relatively loose initial stop-loss at 1177.25. ______ UPDATE:  Using the shrinking trailing stop advised, we exited at 1168.00 for a theoretical gain of $2750.  I am surprised the futures were unable to muster the modest finishing stroke to the 1175.75 target.  As always, however, they seem even more unable to weaken significantly.