Thursday, May 6, 2010

S&P 500 Slumps Down to January 2010 Highs

TweetThis
Graphical example of what I was speaking about in previous post and why S&P 1150 might be some support for at least a cursory oversold bounce.

[click to enlarge]


EDIT 11:50 AM - the predictable cursory bounce off 1151ish did happen, and we go 4-5 quick S&P points. Now we are back to rolling over and in the 1151s. Now the real action happens.

EDIT 11:55 AM - Selling the puts bought about an hour ago here at 1151 area. I think this will provide support for a few hours and tomorrow morning we have news event risk with the monthly jobs report. Plus I need to soak in a victory. If 1150 breaks one can rejoin the fight.

x

Disclaimer: The opinions listed on this blog are for educational purpose only. You should do your own research before making any decisions.
This blog, its affiliates, partners or authors are not responsible or liable for any misstatements and/or losses you might sustain from the content provided.

Copyright @2012 FundMyMutualFund.com