How’s that short position working out for you?  The swoon down to 1138.90 on Sunday’s opening bar allowed traders to close out another 25% of the position a single tick off the precisely targeted low. That effectively raises our cost basis to 1176.90 for the 25% that remains, making it much easier to swing for the fences as we’d intended. Relax for now and enjoy the ride! Although we’re shooting for a potential gain of as much as $13,200 per contract, the 1044.50 price target is not yet an odds-on bet. (In fact, the daily chart remains moderately bullish.) Use a stop-loss at 1162.60 for now, but check for updates after the close in case it becomes necessary to adjust the stop-loss.