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Spy (s&p) groundhog day
This is a discussion on Spy (s&p) groundhog day within the US Indices forums, part of the Indices category; Lately it has been very common for the SPY to make a low in the first half of the trading ...
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Aug 31, 2009, 1:04pm
| #1 |
| Member Join Date: Jan 2009 Location: New York Posts: 80
  | Spy (s&p) groundhog day
Lately it has been very common for the SPY to make a low in the first half of the trading session and move higher throughout the day. This has been the layup trade for months. If the financials are not rallying it is usually the energy stocks. Keep this play until it fails especially in this light volume environment..  |
 
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Aug 31, 2009, 1:14pm
| #2 |
| Legendary Member Join Date: Nov 2001 Posts: 4,580
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Maybe you are right but I've just sold to close, in disgust-  Looking at it in retrospect, I can see a potential double bottom there, with a possible breakout, But the averages are going down and the hourly chart does not appeal, either. I wish I had shorted on the average break, earlier. But that is hindsight. Still, it will be interesting to see who is right. In the meantime, I'm going for a walk. Last edited by Splitlink; Aug 31, 2009 at 1:23pm. |
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