SPDR S&P 500 (SPY): RCKS..very nice analysis on the link you...

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Re: RCKS post# 49400

Saturday, 05/10/2008 11:26:48 PM

Saturday, May 10, 2008 11:26:48 PM

RCKS..very nice analysis on the link you provided. Yes, we are seeing it in the same way. I am going to be looking closely at support levels..and am ready to cut losses quickly, if we are wrong.

I don't think there is much doubt there will be a substantial rally into the election...shorter term is the question.....I had projected a rally continuing to about 1480 on the S&P...then a drop, before the rally into the election. It is possible that 1480 is not going to be reached on this leg, and the action last week may have been the first indication of that. I don't think so at the moment..but I want to see some buying strength on Monday, or I will seriously cut my long exposure. Regards.

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