For tracking purposes, we hold a single contract with a cost-basis reduced by profit-taking to 1174.80. The original four-contract position was purchased off a simple instruction sent out to paying subscribers on Feb 16: “place a ‘mechanical’ bid at 1227.10, stop 1217.40.” As it happened, the stop was never even remotely challenged when the futures swooned to our 1227.10 bid five days later, then turned sharply higher from 1226.80. The price target before we initiated the trade had been 1255.80,
