It’s been a crazy, crazy day so far. First we have bonds and equities go into a free-fall together. Then we had equities explode higher because – – well – -that’s the law. Then we had Trump throw a live grenade into the markets with new tariffs and send them into a tailspin again.

For me, my superhero has been my XLU puts. As of yesterday, I was quite distressed about $UTIL but I amplified my position by 50%. We’ll see if that turns out to be a good move, but so far, so good. Here’s the intraday on XLU.

Looking at the daily, you can see how strong utilities have been. Like I said……….distressing! We must stay beneath that red horizontal.

My faith in the past behavior of the Dow Utilities is unshaken, however. My principal concern is, even with January 2019 expirations, if I’ve given myself enough time or not.