QQQQ – Nasdaq ETF (Last:56.85)

We hold a single February 57 put which owing to earlier profit-taking can do no worse than make us $12.  In fact, our paper gain is currently $124 with the put valued at 1.12.  We’ll continue to hold this position, oblivious to the ups and downs of the QQQs, since we’ve earned the right to think we may finally have precisely caught the Mother of All Bear Rally Tops.  If you are a new subscriber who took this trade for cheap thrills, offer the put for $350 — the price of a year’s subscription — good till canceled. From a technical standpoint Da Cubes look southbound to a minimum 56.63.  That’s a Hidden Pivot midpoint, and if it’s breached on a closing basis more weakness over the near term to as low as 55.21 would be implied.