A bearish target at 38.33 is equivalent to the 34.57 target given here earlier for the Janaury contract. The midpoint associated with the target lies at 45.58, and it is no coincidence that yesterday’s little head-fake died just six cents above it. Also, the fact that the midpoint figured so closely in the day’s price action suggests that the target itself, 38.33, will produce a relatively precise bounce. I typically advise stop-losses of at least 22 cents in this vehicle when playing for a reversal at a Hidden Pivot, but in this instance you could probably get away with a stop as tight as 12-14 cents.