Replies to post #38347 on Short Term Trading Member Forum

[JimQuinceH]

TED, In answer to your question #1 - In my opinion the S & P 500 peaked on May 8th, for this cycle and is headed south, yesterday's low volume rally notwitstanding and I don't expect that the S & P 500 will exceed the May 8th high for many weeks. Bounces are allways possible.

Question #2 - 930 may look probable to you but it doesn't look probable to me. I have been long the DXD since May 7th (at $48.50), I also bought SPY July PUT options and am still holding both positions for the decline that I am expecting to continue.

Happy Trading to you, Jim