Im going long Ultra SPY (SSO) as of today base price is 15.75

Discussion in 'ETFs' started by Port1385, Mar 3, 2009.

  1. I'll post up a chart later. S&P is far below the lower Bollinger. My target is 850 (S&P) with a stop just below today's low.
  2. That didn't last very long, did it.
  3. The chances of the next day being a down day are .93%.
  4. Here is one of the charts I am working off of. Next day will be up, but long term down to the 600 level which is my ultimate target as many of my threads have continously stated.

  5. My stop price is 15.25, thats the max pain I will take.
  6. At the time you posted, the low of the day was about 15.52 (which was the current price, coincidently). You would have been stopped out. Now it's 15.25. Or was it that all along?

    You don't expect much credibility when you don't post specifics, right?
  7. How did you come up with that number?

    If you have some time, you can click the above link and go back as far as 1969 and manually calculate the probability. Assuming today will be a down close, the chances of price closing down the next day are slim.

    It might take you a few hours going through the prices manually, but it will be worth it. There are other sources where you can go back even further.

    Under 1% chance and way under the low Bollinger on the weekly chart, I'll take that bet.
  9. Trading at 15 in AH's. Still in?
  10. OUCH........more inventory grabbed! :eek:
    #10     Mar 3, 2009