I covered all puts as the vix printed the high this morning and have taken a small 25% net long on the view that this morning low was a minor wave 4 within the 5th wave diagonal . the dow came within 25 points of the min the target was 38950 to as high as 39200 focus on 39100 . today drop is the first of the cracks in the bubble phase . 10 20 and 5 day put/call are ringing of a major top and now have a new Hindenburg sell forming. . Best of trades WAVETIMER