SPDR S&P 500 (SPY): Foot, from your inverse H+S, the target...

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learningboutinv

Re: Footquarters post# 33562

Thursday, 12/06/2007 8:43:20 PM

Thursday, December 06, 2007 8:43:20 PM

Foot, from your inverse H+S, the target looks like it could go to 1560. 1540 is a lot of rez so, I understand why you marked that number. But, 1560ish is the old triple top. The market popped during the rate cut around 10/30 or was that 10/31 and then the markets got whacked from behind with a baseball bat.

Been traveling too much and nervous about the day after Fed stuff. I may take some longs off the table (50%) tomorrow or Monday and let the rest ride. But will have to use limit orders and do it the old school way since I'll be headed to TX all next week w/ no internet access. In CA right now til Friday night.

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