Spiders are looking to hit some restistance around the 90 level. This would be a safe level to enter into some June puts. STAY away from the May options. Stop loss at around 91, purchase the 85 OTM puts.
My leaning is to the bullish side, I am seeing the U.S. Treasury market hitting some resistance and about to turn lower, and that should cause stocks and commodities to rally just purely by default with those dollars looking for a place to go.
My target for this counter trend rally remains at around the 10000dow and 1050spx. The banks should be able to manufacture earnings for another quarter and that should allow all of the liars and charlatan's on the media to keep this thing going. The big money will be made in the last quarter of the year on Spider options, almost a repeat of last year.
Cash21
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