SHORT TIME
The SPY has just busted out (broken out) to the 130.65 area and I have just sold it short. This is a day trade as I expect some selling to come even in light of the upside jig in the internals to 1,200 green. Most sectors have also flipped green sans the Oils. Note also the drippage in the VXN asi t now is more than 11% below its 10 day SMA. My SPY trade is a day trade for and I will not let it go past 131. I intend to cover it on a blip/whoosh down.
posted by DAVID at
2:35 PM
1 Comments:
D:
I shorted at around the Pivot Point Resistance of the day which was the 130.7 area. All the signals are set up imvho for a bit of a selloff- the key is "TOO MANY GIDDY COMMENTATORS ON CNBC"
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