It’s no great stretch to imagine the December futures falling all the way to the 2811.00 low shown in the chart (inset) to test its support. More immediately, they seem bound for at least 2924.25, the bearish target of a gnarly pattern on the hourly chart (A= 3024.50 on 9/19; or alternatively D=2936.25, where A=3012.25 on 9/23). I will be observing the Jewish New Year and won’t be in the chat room until Tuesday night, but I’d encourage you to use these patterns in the meantime to tame and trade this dervish. I bought a few DIA puts (October 4 265s) on Friday just to have a horse in the race, but I won’t be able to add to the position after sunset Sunday evening. You should consider it yourselves, though, laying in a small inventory of puts on intraday rallies. Don’t bet big, since odds will always be against put buyers in a bull market that has endured for more than ten years. ______ UPDATE (Oct 1, 12:40 a.m.): Bears are once again on the run. They had better dive for cover if this gas-bag exceeds 2995.00. _______ UPDATE (Oct 1, 10:02 p.m.): Today’s plunge turned from within two ticks of a 2936.50 target posted by ‘Bachus’ in the trading room shortly before it occurred. The bounce so far has been feeble, suggesting still lower prices are coming. If so, use 2930.75, and then 2924.25 for targeting and trading against the trend. These pivots were calculated by sliding the point ‘A’ high to successively higher peaks on the hourly chart.