TECHNICALS - SPY

Nice chart on the SPY. Yikes; I checked my spreadsheet and the SPY is now the most stretched it has been from its 13 day SMA since, well, that number is not anywhere on my spreadsheet going back to 2004. April and October 2005 were close but not quite this far stretched.

I sold some stuff today and am still holding some ETF's that were bought into the carnage. I need the VIX/VXO/VXN sisters to get unstretched to unload more as they are all about 25% above their 10 day SMA's. It is scary out there and what happend to buy the fear and sell the greed. The fear appeared last week and it continues and like I said earlier today, oversold can get more oversold and more oversold and so on and so on.