Weakness we’d anticipated brought the futures down to within $1.80 of the 1229.30 target disseminated in the chat room early in Thursday’s session. Some subscribers reported having gotten short for the ride, but I am currently tracking only a bigger-picture long position that has left us with a single contract and a 1225.00 stop-loss. The cost basis for the position, reduced by two profit-taking opportunities, is 1174.40. That means if the stop-loss is hit we’ll come away with a theoretical profit of about $5060. The details of this trade can be found by clicking The Scoreboard tab in the chat room. Night owls should check the chart (inset) for a potential bottom-fishing foray this evening.
