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Wednesday, November 30, 2011 10:27:36 AM
SPY amazing how the charts can dictate the next move.... who woulda thought the chinese would be the impetus for this ramp!! the chart was callin it though... shes not always right but more often than not they dont lie
SPY $119.71 (updated chart) I was sitting on my hands most of the day waiting for the pull back. sure enough after 3Pm we got that pull back as SPY pushed under $119. i stated earlier that I was a call buyer on a dip below $119. I bought 10 SPY $121 calls at $.75 13 cat $95 calls at $.32 10 JPM $30 calls at $.30.... all of these weekly calls.
I see an inverted head and shoulders and a possible move back to $123.80 and just maybe $125. trust me i hate this market. I think we are all screwed starting with the europeans.... but right now where else is all the cash going to go??
my annotated chart from monday --?>>>>
todays RAMPFEST -->>>
SPY $119.71 (updated chart) I was sitting on my hands most of the day waiting for the pull back. sure enough after 3Pm we got that pull back as SPY pushed under $119. i stated earlier that I was a call buyer on a dip below $119. I bought 10 SPY $121 calls at $.75 13 cat $95 calls at $.32 10 JPM $30 calls at $.30.... all of these weekly calls.
I see an inverted head and shoulders and a possible move back to $123.80 and just maybe $125. trust me i hate this market. I think we are all screwed starting with the europeans.... but right now where else is all the cash going to go??
my annotated chart from monday --?>>>>
todays RAMPFEST -->>>
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