Replies to post #178614 on SPDR S&P 500 (SPY)

[risk on]

Lol, "2000 when I went to the tailor and he told me to buy some tech stock. I knew the end was near. "

Those were the days when you could just throw a dart and pick a winner, those days are gone .

[Mma20]

Market gonna rip hard to the upside when it does

[3kidsplus1]

It will be profitable when the shorts cover, just a little cautious at the moment. I think last nights drop was just in anticipation to unknown facts to us at the moment. Although yesterday's intra-day action did hint to a big move today. Not sure if there was news today, maybe some bedtime reading tonight. Will check over it again this weekend too.

[imiloa]

market closed monday. i spaced on this earlier.
http://markets.on.nytimes.com/research/markets/holidays/holidays.asp

[imiloa]

re: UWTI, it looked like it wanted to rally EOD
so might recover a bit next week.
i'm still wary of Saudis tanking oil as soon as Iran sanctions lift.
so want to be out before then
which could come any day now...

re: SPY, i'm still holding my jan22 calls
tho, unclear they will recover in short 4-day week next week.

i flipped my 193c yesterday for decent gain
which offsets some of the loss it they do wipe out.
as ranted earlier, i blew my put play.
got a give of nearly double on the midday plunge
but didn't lock it in with a stop order
when i knew i'd be offline for 10 min in the can.
just effin stupid...

re: market going lower, agreed.
we're actually dropping a lot faster than i expected
which does give some hope for a bounce to save our calls.

re: folks starting to go short now,
i guess they've never heard of stochastics?
hopefully the lesson isn't too expensive for them... :-(

[risk on]

20year Monthly w 9EMA, SPY CHART....

Note, in 2008 and 2000 when the 9 EMA ( T Line ) cross through the Mid BB ( signaling the correction) , it did so in a direct manner, straight through w authority. Over the past few months, SPY has not seen the same , it turned down into, but then rode the top, something NOT SEEN in previous corrections. Although 9 EMA may NOW ( currently ) be below the MID BB! It in no way guarantees we will see it close there. As in Aug and Sept, we saw the same DURING those months yet, obviously price moved back up, and closed back above. The pattern we have seen over the past few months lends itself to pause in thinking " Correction is certain". We will know a lot more come 1/31/2016.