We have held this $SPX trade since March, and it is the most successful trade in this newsletter's short history. In fact, it has wielded not only a considerable percentage from the trade itself, but there have been tranches that have added to the equity return.
Today, I am closing it out. I sold the SPX vertical at $10.45, a 221.5% return on this original trade not including the tranches and hedges that were done along the way.
Avi is talking about a drop to 2830 being a pivotal moment. DaybyDay has a drop to 2790 in the near future. Hadik has a drop to 2800. Further, there are questions among the trusted analysts about this bull market being over, with a multi-month top being put in place. There may be a chance we will see a leg higher, but the long term portion of the equities trade is over. I may play some shorter term equities trades in the future, while I wait for confirmation that the long term bear market trade has begun.