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ZombieStar

SPY trying to trick us into buying puts eh?

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SPDR S&P 500 ETF TRUST (AMEX:SPY)  
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AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Harmonic Patterns Chart Patterns SPDR S&P 500 ETF (SPY) spylong
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trendanalysis harmonicpatterns chartpattern spy spylong
SPY is not going down without a fight. I think today's episode might be another "buy the dip" opportunity. Wouldn't it be convenient if we could all buy puts and cut straight to the depression already? I know the answer is "YES" but the market has a way of burning all bear money (before) it moves in that direction. Right before the big move down, the people that had this planned for months are out of money. Happens all the time. =/ I know that SPY is trying to trick me into going all in PUTS, but not this time.
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snapshot

Hmm not looking so hot
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It looks like we're going down. Next pivot is 2770'.
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last thought of the day
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