Once again, I am refraining from posting a key rally target that we plan to short in hopes that this will help reduce front-running. To calculate the target yourself, use these coordinates from the 240-minute chart: A=1375.75 (12/28/12); and B= 1523.75. Camouflage is advised if and when the opportunity arises, but if you take a lazy man’s approach, I’d suggest using a single contract with a 1.00-point initial stop-loss. Keep in mind that any movement above Friday’s high in the cash index would imply that your trading bias in this vehicle should be bullish until the target is reached. Please note as well that a 1648 target in the former has an analog in this vehicle at 1647.50 (also very short-able: A=1476.25 on 2/25). Check my Sunday post (16:26) for a further note.
