Using trailing stops disseminated in the chat room, ‘Crusty Buttocks’ has closed out half  of a short position entered near the recent top at 65.26.  His profits on the trade amount to $431 so far, effectively raising the cost basis of the shares we are still short to 67.41. His last post in the chat room advised a 65.26 stop-loss, but you should stay tuned intraday in case he adjusts the stop.  FYI, if this vehicle falls to a midpoint support on the weekly chart that’s equivalent to the one at 1301.25 that I’ve flagged in the E-Mini S&P, it’s bound for a minimum 61.51 (see inset).  _______ UPDATE (July 25, 3:11 a.m. EDT):  In an update from Crusty posted Tuesday morning in the chat room, he has kept 200 shares — half tied to a 65.26 stop-loss, the other half stopped at 67.64. His cost basis for the short is 67.41, making it very hard to lose. _______ UPDATE (July 26, 10:19 p.m. EDT):  Looks like Mr. Buttocks is holding a winning ticket, even if it turns out that the top he shorted was not the ever-elusive Major Top. Even after yesterday’s ferocious rally against his position, he’s still up $800 on paper.  Not bad for being “wrong”!  _______ UPDATE (July 30): With the market in the throes of a vicious rally, Crusty exited the last 25% of the short position on a 65.26 stop-loss. This he duly announced in the chat room at 9:37 a.m.  His actual reported profit on the trade was $500.  As of August 7, the QQQs appeared bound for a possible top — tradable via camouflage, in any case — at 67.07.