Replies to post #279226 on SPDR S&P 500 (SPY)

[power11]

I BELIEVE THIS IS THE TIME TO START BUYING SOME PUTS AND AS THE MARKET GOES UP YOU ADD TO YOUR POSITION.
THE MARKET IS OVERBOUGHT. WHILE NOBODY CAN PREDICT A TOP; THIS IS THE TIME
TO TAKE THE OPPOSITE POSITION.

[Commander Pennystock]

3 day trendline broke

[DrHarleyboy]

SPY was severely overbought on the daily, and served up the indicators that lead to me formulate to purchase puts today. If $280 doesn't hold, could retest the $278 area tomorrow as I already indicated.