Regardless of how we open Monday (gap down on CS bailout for example) I expect a rally all week up to around the 3790 SPX gap. That's over 200 points up by Friday, a 5-6% market rally. Enough to turn the fearful greedy and re-invigorate the dip-buyers.

 

I bought energy and a few longs last week for this week's run. The gold/oil analog says Thursday Oct 6 is a peak for oil, so I intend to sell energy Thursday (matches nicely with a market rally). I will buy back energy on Oct 20th for the oil rally into year-end.

 

Starting Oct 10th I expect a sharp drop in equities very similar to the 535 point SPX drop from 9/12 to 9/30 which should end around Halloween. Then a Nov rally for 2 weeks and a selloff into year-end, under 3000 SPX. That would coincide with a DXY peak around 120 the first week of January.

 

I've been putting some of my recent equity put profits into PSLV and PHYS rather than just cash. I am watching the COMEX daily stats with interest and can envision a pullback in the dollar at any time that spurs a PM rally.

 

Like you I've been heavily into puts (SPX and QQQ plus UVXY calls) that were dated for late Sep, early Oct, late Oct, and mid Nov.  I closed out all the short term and most of the long term last week but will buy back end of this week to maximize the above market playbook.  I maintain my UVXY calls as a hedge against an absolute collapse that doesn't follow the EW playbook.