The 99.60 target drum-rolled here earlier still looks like it can’t miss, notwithstanding occasional, freakish bouts of histrionics such as we witnessed yesterday. Because any potential rally top so close to $100 is not likely to be underwatched or undertraded, we’ll need to use ‘camouflage’ tactics deftly to get aboard a southbound express, should one materialize. Accordingly, I’ll suggest setting a screen alert at 98.80 to warn when the opportunity is getting close. I’ve done so myself and will signal the trade in the chat room if possible. _______ UPDATE (Sunday, November 13, 10:20 p.m. EST): The futures have pulled back nearly $1.00 after topping this evening 9 cents above our 99.60 target. None of the feints lower so far have produced a legitimate, bearish impulse leg even on the 5-minute chart, but that’s where I’ll suggest looking if you’re eager to get aboard via ‘camouflage.’ Note: If you simply shorted my target with a stop-loss of at least 10 cents, I’d suggest using taking profits on half the position and tying the rest to a tight, 99.27 stop-loss.
