An alert Pivoteer reminded me in the chat room that I’d put out a 23665 target for the Dow several weeks ago. I’d nearly forgotten about it because it was contained in a Morning Line rather than in a tout. The up-to-the-minute chart, with a so-far high today at 23638, is shown in the inset. The equivalent target for DIA lies at 236.59 (versus today’s so-far high of 236.33). I expect both to get closer to their respective targets, so let’s plan on getting short with some DIA 15 Dec 234 puts when the time comes. They should be trading for around 1.00 with DIA at or very near the target today or tomorrow. _______ UPDATE (Nov 28, 9:56 a.m. ET): With DIA opening higher this morning, numerous subscribers have reported getting filled on the DIA puts at prices between 0.91 and 0.99. This is a straight speculation, since we have effectively jumped squarely in the path of a speeding freight train. We’ll risk about $100 theoretical and assume four puts bot for 0.96. Stop yourself out of them if they trade down to 0.70, good-till-canceled.
