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"

Wednesday, March 18, 2009


Our target is that 81 level on the spy.... then I expect a correction.... Though blowing through the 50 isn't unthinkable. I would be concerned if we fail below 76 at this point. It would not suprise me to see a move to 81 then a correction back to 75... but at that correction we are looking to buy it again...
Don't ask me how to play that. Maybe hedge and take some profits at 81.

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