Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Friday, August 8, 2008

The hard market

10 day spy. You can see the support line in red... we have retraced 61.8 of the last move.

I'm not that optimistic about it not finding support at the 50% level....
If it does move to the upside, I'd say... we build a little dome top.....

Unless you want to play 1990.....

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