After rallying sharply this week, the Cubes topped yesterday at 68.49, a mere 0.16 points from a Hidden Pivot target at 68.65 flagged here a while back. Officially we did nothing, since I’d shelved a recommendation to buy May 68 puts if this vehicle got within 0.07 points of the target. I mention the target now because it has the potential to be an important top — the culmination of an ABCD rally pattern that took nearly two months to complete. The chart shown was prepared by ‘SD1’ — Thanks! — and helpfully linked by him in the chat room. _______ UPDATE (12:58 p.m. EDT): I’m establishing a tracking position because some subscribers evidently bought puts when this vehicle head-faked to 68.51 this morning — just 0.14 from the target. Assuming four puts purchased for 1.56 (they could have been bought for as little as 1.41, but the price I’m using mimics the market order that one subscriber had in at the opening), we cashed out two for 1.78 in real time during today’s weekly tutorial session. That leaves two calls with a profit-adjusted cost basis of 1.34. Do nothing further for now.
