S&P 500 level of 884 is very important. A close below will take us down to 840's. I will stay in my SPY puts for now. I do think we will go lower.
Position yourself for a move lower. By some puts in retail (XRT or RTH), REIT's which we have naked puts on (SRS), or like I said the SPY.
As far as our SRS trade; be patient and wait. If you have a 50% return on any trade, then take the money.
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