OUR CALLS TO GO LONG ON MAY 7 AND SHORT ON S&P 500 WHEN IT CROSSED 1170 HAVE PROVEN TO BE PICTURE PERFECT
We suggest protecting profits right here by fully hedging for the weekend with futures on short positions in both both allocation models as well as individual remaining short positions. We caution against using trailing stops to protect profits over the weekend. The situation is too fluid to even attempt to make an accurate prediction of how markets will open on Monday. We also caution against using options to hedge as the premiums have become very expensive. Trailing stops may be used to protect profits intraday. As of this writing S&P 500 June futures are at 1128 and June oil futures