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"

Tuesday, December 9, 2008

It's roughly freefall from here

everybody wanted a bottom, and it's all disbelief from here the 90 level on the spy was important support, and should be some nice resistance, it will be interesting what the end of the day brings. There isn't any support till that white line, and I wouldn't expect significant support till that red line.

I didn't get all my shorts on yet, I'm hoping for some "end of the day hope" and some new chances to sell.

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