I’d had my doubts about that 205 target, technically compelling though it be, and they have been assuaged by Goldman’s two-day plunge of $9, or about 5.5%. We’ll keep our distance from this rabid animal for now, but if it turns mellow for a day or two, it may be possible to squeeze off a short. I have in mind an April or July put butterfly near the 120 strike, so stay tuned.
