Another -$8 on SPY tomorrow (Tuesday) - Chart

Discussion in 'Trading' started by 1a2b3cppp, Aug 8, 2011.

  1. Let's continue this parabolic arc downward.

    [​IMG]
     
  2. market is surging AH. Emini is up 2.75 point :)
     
  3. Still lower than the close price tho.
     
  4. the last bar looks like a weekly candle. does it imply that the market will be closed for the remainder of the week?
     
  5. Don't get me wrong, a rally would be awesome. I'm long 5,700 shares of SPY right now. But if it wants to go down I can buy some more. I don't care.
     
  6. It implies I didn't spend enough time on that chart in photoshop :(
     
  7. but what is likely to happen is a little rise in price to get people exited and then it will drop.
     
  8. There are going to be some new millionaires when this little recession is over.

    Some of them will be the dudes who shorted this the whole way down.

    Some will be the dudes who had tons of OTM puts, surely with at least one "$1,500 into $1,000,000" story.

    Some will buy OTM calls at the right moment and when the market recovers, add a couple 0's to their account.

    And others will be people who loaded up on weighted ETFs at/near the bottom and hold them until the market recovers.
     
  9. I am also long SPY and if it goes down I will throw up :(
     
  10. either way, something will be up. :)
     
    #10     Aug 8, 2011