Replies to post #23289 on SPDR S&P 500 (SPY)

[learningboutinv]

Yeah, according to Scam. But there was a DJIA R3 yesterday too! 5:1. So I am being cautious and sold my longs into the gap this morning.

[partimer1]

I would imagine back to back R3 in this setting will work (gap and crap). but it looks like the gap up is sticking so far. look at today's CBOE volume. It is amazing too. The total index P/C ratio is also remarkable.

p

[learningboutinv]

Too bad I can't sit and watch this. I'd like to scale in on a short term qid trade because of the R3s, and current NDX rez; but, I have to drive from Baltimore down to Herndon today. (1 1/2 hours 1 way)

I guess I'll just sit on my hands today and stay in cash. The only good thing so far about getting a new job is that the past 2 weeks I've been able to day trade and watch the markets more. (Because of delegating lots of work to other people.)