jamespwu

Can we cover one of the spy gaps short term?

AMEX:SPY   SPDR S&P 500
23 0 1
Personally, I believe we should should cover the spy             gap around 189.75 shortly. But market is making it very difficult. From the recent bottom the top of the bounce, we have just pulled in 20% with today's intra-day low. Technically, we already had a measured move on the spy             channel breakout, you would think a pull-in should occur, especially the market loves to fill the gap. 2 things I observed in yesterday and today's minor retracement. Yesterday, the VXX             kept creeping down, even when the market was selling off. Today, the market decoupled from oil             when it was going down. I was long over 100 spy             puts overnight, I took profits and reduced my position to only 8 contracts. I don't feel comfortable shorting over the weekend.
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