Over, Over, Over-bought

Despite being over-bought for the last two weeks, this week the market also went over-bought on a monthly basis. Unfortunately, in so doing, we were stopped out @ 1498. At the risk of ignoring the market action, we still see a sharp set-back at any time and so are placing a sell order for 5 contracts at 1500 on the market open, we will then sell a further 3 if the market hits 1509. We will set a very tight stop @ 1512.5 for all the 8 contracts and run the position until 1450, where we will take profits.