Wednesday, February 11, 2009

Quick Update

I've been waiting for SPY to bounce to $85 in order to get short, but no luck so far. As noted in the report last night, I'd like to enter at $85 with a stop above the 50 day moving average and an initial target of $80. Yesterday's high volume drop, while not doing any damage to the trading range, did negate the positive accumulation pattern that had been building.

No comments: