FWIW I am giving the SPY a little room to possibly above
the 110 high, because if this is the "C" of the ABC rebound off the
July 1st pivot low, then it could take it out the A leg high
by a little (say 110.50 to 111.50) before we go down again.
But , that said, I think the market peaks today or tomorrow so I am
building a new SPY/ SPX futures short position now. Also shorting
GDXJ. But looking to go long both stocks and golds in coming weeks
after they drop again. Especially tech stocks like MSFT, INTC,
HPQ
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short spy? and GDXJ?
Short Market Now?
Posted by PA on 21st of Jul 2010 at 11:47 am
FWIW I am giving the SPY a little room to possibly above the 110 high, because if this is the "C" of the ABC rebound off the July 1st pivot low, then it could take it out the A leg high by a little (say 110.50 to 111.50) before we go down again. But , that said, I think the market peaks today or tomorrow so I am building a new SPY/ SPX futures short position now. Also shorting GDXJ. But looking to go long both stocks and golds in coming weeks after they drop again. Especially tech stocks like MSFT, INTC, HPQ