Replies to post #299171 on SPDR S&P 500 (SPY)

[deadjim]

i'm pretty torn. markets look bearish as hell. on the other hand, i haven't seen this kind of panic since 2008. which one is it...

after looking at charts for about 3 hours tonight with my market companion (got me into the markets in 2008), we came up with about 18k on the dow. which is what i was originally looking at. if it hesitates in that area there may be a place. for a rally, to sell into? another way to tell is watching the bear ETFs such as TZA FAZ. when they start to back fill the first sets of gaps we could see some rallies in the markets. BUT in general we no longer are BTFD we are STFD.

like i said though i'm still torn on the issue. too much panic, just enough panic, too far, too fast. keeping eyes out.