Never Buy Above Prior Day Close

We will lead with commentary and quotes from our subscribers:

#1 - When I read the tape this morning from 9:32-9:35, I got a drop of about 27-28 points. that is by far the biggest since I've been a subscriber. And that was after the initial drop due to the futures being lower. I know your rule states not to purchase calls or puts that are more expensive than prior day close. However, if we did buy some puts when the bell rang, we would have made out alright today. How do you wrestle with that dilemma? Do you ever buy more expensive than prior day close when you get an opening like that?
Floydian rule: do not break the rules. I never buy above prior day close. It's up to the individual trader to change my rule.

#2 - Should I be getting ready to buy some calls right now or does this thing gonna get to your bottom of 12,690. If it is going to get to 12,690 - shouldn't we be buying some puts? And how do you "know" or "estimate" where this puppy is going to end up before it reverses? Resistance 3?
Floydian rule: lock profits. One can always buy again. What is predictable and obvious may not not be. All is not as it appears.

I am reading Dorsey's book and I love it. If I do what he tells me and study the point and figure method, will I be able to predict the DOW with such precision like yourself or are you just some gifted market genius that will always be superior to us? No offense to you but I want to be self-sufficient. If I can't learn how to do this, my income potential will drop dramatically when you retire!!! How long before I will "know" when to buy and sell. I lost so much money yesterday b/c I sold too early and I would have bought calls 5 times over by now. How do you know what to do with such pin point accuracy? I cannot believe you don't have infomercials somewhere!!
Predicting the Dow is the question I receive most. I use point and figure charts, with 50 day moving averages, Bollinger Bands, and both 3:1 and 1:1 charts. I study news.
70% of my work is intuitive. Advanced Mentoring client P.C. from Germany is kind of enough to have offered to try to put my many thoughts on Dow projections in writing to try to teach it.
I would not ever infocommercial or advertise and "sell". I would then get too many clients and it would not be fun. I am not in this for the money.

Like clockwork, top sells to 20.50, so far $45k on this trade waiting for last fill, will adjust if needed to be out of inventory at the end of the day. I adjusted sell orders up this morning after the futures tanked.
Floyd: a smart trader

I sold 110 contracts today, still holding 10. Nope sold 120, just got filled at 21.00.
Floyd: a happy and profitable trader.

Yesterday’s market was up to a high yet closed near the low and when the high was occurring the volume was dropping – then the plunge today. Right out of Wyckoff’s book and right in line with your signal. I love it when you give a signal and the second buy opportunity occurs because that means to me the signal (at that purchase point) has even a more profit potential.

Thanks again for another great trade!! You helped put another 15k into my trading account

Floyd: Good traders follow the rules, and don't believe the "facts". Last week the bulls could not end....and the analysts were telling us 13,500, and it's all coming.
Wonder what they are saying today?

What's next?
Read our Dow projections. Bottoms may NOT be finished, but whipsaw is likely. The market held at a strong resistance area of 12,740 today. We'll enter puts one more time, but the risk is increasing.

All is not as it appears. The news will tell you that yesterday's drops were caused by " fill in blanks". The market drops were ALREADY coming, and the "fill in blanks" was just the catalyst for the downside.