SPDR S&P 500 (SPY): Gleno, as I said earlier, I think it's s...

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learningboutinv

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learningboutinv

Re: GLENO34 post# 52603

Friday, 06/13/2008 3:54:32 PM

Friday, June 13, 2008 3:54:32 PM

Gleno, as I said earlier, I think it's shorts closing out their positions since it's the end of the week and they made a killing and they probably don't want to hold over the weekend.

60min trend is up, so on Monday, I will buy when price drops to that lower trend line and put a tight stop right under the 34sma. We finally broke back through that line. It's been under all day except for the opening spike.

(Edit we were also repelled by the 61.8% fib retrace at 84.50).

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