of MMMs but I have them spread with the same number of long KKKs. It seemed to me (Farmer Ed say anything below 3.00 to too wide) that the -6.80 spread was just too low so I bought a couple more this morning. The Market Goddess was kind to me and let me scalp out of them with my profit target. Another pop higher and I can sell again or a dip and I can buy again.

I keep looking at the MMM to component "Gap". It now stands at 18.24. On average over the past eleven-years, the Index moved up 8.36 from this date to the expiration of the MMM. The most the Index tacked on was 21.66 in 2006. The maximum decline was -10.25 in 2014. Only twice did the index go up more than the 18.24 "Gap" we now have. I think I am going to over-lay my long K/Ms with an extra short MMM or two.

Like you say, we can both be right, it is just that one of us may be right for a longer period of time.

Best wishes,

dhm