Prepare to short at spy 93

pinball

With real economy related offensive sectors xly/xli/xlk huge lagged, with smh even more lagged, with defensive xlv/xlp leading, the rebounce is expected to be a rebounce only.
    So a bear should take attack at next resistence, spy ~93 level, which is Tuesday high and the lower boundary of the box consolidation range 93-95.5 from Jun 1 - Jun 12.

btw: the risk/reward is also sweet there, for daytraders there is 93.25 vs 92.25, risk/reward 1/3. for swingers there is 95.5-88, risk/reward 1/2

dd_xu

谢谢，老大重新出山

bucks

buctusa

zhyuan04

I agree. That is my plan as well.

With real economy related offensive sectors xly/xli/xlk huge lagged, with smh even more lagged, with defensive xlv/xlp leading, the rebounce is expected to be a rebounce only.
    So a bear should ta ...
pinball 发表于 2009-6-18 11:12

Lynxx

Diver

1# pinball

新低手

ice_tea

xie

lwjnbtx

soulvirus

amd2k

Thanks, this is a perfect plan

pinball

1# pinball


Since today is SPY EX dividend day, so the spread of spy/spx vanishes, and now 92.5 is yesterday's 93.
So the short triggered.
The STO RSI indicator stays already enough time on the overbought and a downturn until next Monday morning is expected(maybe longer).

One should observe the sector performance during the downturn, if the offensive sectors retreats, expect an attack to spy 88-89 level, otherwise maybe take some profit on 91 level.

Well, I could be wrong, just for your reference. YMYD

btw: I'll write sth later this weekend on how to use the indicator STO RSI, it is my favorite indicator together with MACD.

JL01

freestock

Anybody shorts SPY from today to 6/23 (record day) have to pay $0.518 dividend on 7/31 (payable date). Even day trading in short account. Be careful.

pinball

15# freestock


hmmm, would you please explain in details?
I thought that only people who held short positions during Thursday night should pay dividend at the end of July.

wyemlyy

Will put pay dividend too?

freestock

Will put pay dividend too?
wyemlyy 发表于 2009-6-19 12:49

No. Only stock.

freestock

15# freestock


hmmm, would you please explain in details?
I thought that only people who held short positions during Thursday night should pay dividend at the end of July.
pinball 发表于 2009-6-19 12:35

No. Anyone have a short position at any moment during today's open to 6/23 close pays dividend.

wyemlyy

Thank you
19# freestock