It would take a mere 180-point rally to bring the Dow Industrial Average to the tantalizing, 17865 Hidden Pivot target shown. Odds will probably bend more favorably toward getting short there with a tight stop-loss than trying to get long for the ride up. However, I say that only because, permabear that I am, I am imagining the Indoos taking a very steep plunge without having achieved so obvious an objective. What I cannot imagine is buyers blowing past the target as though it were not there. Accordingly, traders looking to get short should use a corresponding target at 178.47 in DIA. Focus on out-of-the-money put options with 1-3 weeks left on them that can be bought for 0.60 or less. You should initiate this trade with DIA no more than 15 cents from the target, adjusting your bid so that it cuts the spread in half. _______ UPDATE (November 21, 9:51 a.m. EST): DIA popped to 178.60 this morning, but I’m still waiting to hear from subscribers who bought puts before I establish a tracking position.
