If you have been reading this on a regular basis, you will know that I have been only interested in selling new highs in the Stock Index futures, with very tight buy stops above.
Today December Dow futures moved below support at 13,400. This is an opportunity to take profits, as well as manage profits with trailing buy stops. If you have profitable short positions on currently THE WORST you should be looking at now, with your trailing buy stops... is a push.
We could get a nice break here down to 13,150. That's a potential $2500.00 a contract profit.
In the S&P's I'd be looking to buy some 1400 Dec Puts.
That's about it.