Replies to post #222052 on SPDR S&P 500 (SPY)

[NickXIV]

I just think it's already being overly priced in with a move of 41% in the past 43 periods, think we could potentially see 230-235 on new's driven by the latecomers contributing to a blow-off a little bit followed by the retracement, thats why I took the extra time on these contracts so I can be comfortable if it doesn't necessarily happen within the first month or so of holding them..

Also with how quickly it's moved up, it doesn't show much volume area's that will catch well as support if momentum transitions, I mean 205-210 barely you could say, but with how quickly it tends to decline, I think the profit potential's a lot greater than the 200 area anyways, but rather not look at that as motivation since it's unsure lol, so if it does break that it's just a nice additive (:

Also if it does move to 195 I'll be extremely excited, as entering a heavy spread on it will play out nicely, because then it will either return to ATH's if the market really does decide to move hard upwards in the beginning of the year, or if it breaks 195 to the downside we'll see 165.

$30 either direction easily covers the loss of the opposite side + plus another 100% return

Looks like we'll see