9/19/16 was down -$0.79 and the model projects that the component on yesterday's kill will drop again probably between -0.50 and -0.80. This is a powerful down-trend we are locked in. The VVVs settled yesterday at a discount of -6.90 to the component with 19-trading-days until we go to cash settlement.

That's quite a "Gap" and these 50 to 80 down days takes a lot off the index. I don't know where the bottom is but I am going to press my luck and stay short again when the market opens. Pre-opening says we get another "Pop" up on the opening.

Best wishes,

dhm