TRADING THE VOLATILITY
The market has inched higher this morning as the Techs, Banks, Brokers and Small caps lead. The metals are under a bit of pressure and GOOG is 10 to the good side. The NYSE internals are 500 to the green and the NAZ are flat.
The SPY is now sitting a bit above the 130 Pivot and anyone (me) who bought the dip at the 129.7 area is now up about 4 S and P points in a quick morning trade. BUY THE DIPS SELL THE RIPS. Until further notice that is the action in the markets.
PAY NO ATTENTION TO THE MAN BEHIND THE CURTAIN WHO LOVES EM HIGHER AND HATES EM LOWER.
The question now is can we get any jig beyond here. Initial resistance on the SPY is at the 130.55 area and we may get there. I would trail gains closely as lately the market loves to fake and reverse.
The SPY is now sitting a bit above the 130 Pivot and anyone (me) who bought the dip at the 129.7 area is now up about 4 S and P points in a quick morning trade. BUY THE DIPS SELL THE RIPS. Until further notice that is the action in the markets.
PAY NO ATTENTION TO THE MAN BEHIND THE CURTAIN WHO LOVES EM HIGHER AND HATES EM LOWER.
The question now is can we get any jig beyond here. Initial resistance on the SPY is at the 130.55 area and we may get there. I would trail gains closely as lately the market loves to fake and reverse.
posted by DAVID at
12:01 PM
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