michael deckelbaum on SPDR S&P 500 (SPY) until Sep 23, 2011

Sep 05, 2011

Not much confidence in the market right now. I believe that we have strong potential to break the previous low of 110. I would be looking to get short around the 120 levels, (hopefully after a small pop tomorrow). Risk is just below 125, probably around 124, 123. The assumption is if it breaks previous highs it will continue higher and we need to reassess. If it stalls near the lows and is not able to break, take your money, but beware of false breakouts.

This is the opinion of its author, and does not necessarily represent BestStock.

Rating:

100% (1 of 1) are convinced

Michael Deckelbaum recommends selling SPY

This idea expired Sep 23, 2011

SPY

165.74

0.00
(0.00%)

SPDR S&P 500 (PCX)
Range	N/A - N/A	Previous	165.735
52 week	130.85 - 169.07	Open
Volume	216141	Mrk Cap
6/18/2013 4:00pm

michael deckelbaum on SPDR S&P 500 (SPY) until Sep 23, 2011

Trade Ideas