The futures missed a 1589.00 rally target given here yesterday by three ticks. Fortunately, that didn’t deter an intrepid camouflageur who goes by the chat-room handle ‘Davis’ from getting short a few points off the top. He reported taking a partial profit one point below the 1585.75 entry price, then taking a single contract home after the bell.  We wished him good luck.

Luck aside, with the Mother of All Bull Traps now in its fifth year, getting short will always be grabbing a tiger by the tail. Davis’ trade has the potential to rack up an additional 7-point ($350) gain, based on the target shown (lower green line). however, judging from the bounce the futures got from the 1578.50 midpoint, it’s not going to be easy money. _______ UPDATE (10:54 a.m. EDT):  With one 4-point rally interrupting overnight, the futures bottomed exactly at the 1574.50 target shown in the chart.  Since then, they’ve been in a headless chicken dance that was verging on taking out the low. Want to join in the fun? Click here for a free trial subscription that includes daily touts and access to a 24/7 chat room that draws experienced traders from around the world.