A Horse in the Race

We have a horse in the race — some DIA call options whose cost basis has been reduced to less than zero by timely profit-taking last week. The broad averages looked buoyant enough Monday to extend the rally into a second day, but the move faces daunting resistance from a 19489 target for the Dow Industrials that we’ve used for the last several weeks to stay on the right side of the move. That Hidden Pivot resistance lies 273 points above Monday’s closing price — a two-day romp, at the rate the uptrend has been unfolding.