frodo75

SPY to 368.xx

Short
AMEX:SPY   SPDR S&P 500 ETF TRUST
201 views
4
How about that?
Comment: I am describing a worst case scenario here folks. Bears will out with new energy and exuberance with this new shiny shorts showing measly gains. There will be calls for negative number of SPX. Weak hands would have sold by now. News would be full of how the stimulus is not going to pass. Overnight, after touching the bottom of this channel, when the hour is the darkest, market will start shooting up.
Comment: Or... we could turn back now or after setting a new lower low. I think fibs 0.886 and 1.0 are good targets for bounce. Between 377 and 375.
Comment:

Comments

Extremely strong support at 380-382, you would see the shorters try so hard to bring it below 380 but failing terribly.

Would prefer to buy at 382 and let it fly to 400 by end of month
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chickenboye poister198
@poister198, it's always strong support until it isn't :)
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frodo75 poister198
@poister198, Bud, I am just a poor boy trying to make a living. My shorts and longs are a drop in the water. Most of the time, I am trying to stay afloat and not get gobbled up by the sharks. Ride the wave brother!

BTW, it is playing out as expected. I think we see one more down day tomorrow and we start the ride up either by mid-day on Friday or Monday. I be switching to the long side as soon as I get the signal.
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