SPDR S&P 500 (SPY): I opened a 124-119 spread to protect mys...

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Saturday, 11/05/2011 6:37:13 PM

Saturday, November 05, 2011 6:37:13 PM

I opened a 124-119 spread to protect myself just in case of a breakout. We might come crumbling down to 122 again but just incase we test the 130's again I am safe. We have been expecting this chart to reverse for some time now, but I think Europe will remain stagnant for the month of november options. I feel good about our 122-130 channel. JMO

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