Today I just expect a choppy day between yesterday's highs and probably the lows of $109.90 in after hours.
If you shorted SPY yesterday and covered before SPY climbed up and made new highs, then good for you, if not, you should have covered somewhere in the $110.70s. You can see that late in the day SPY hit my $111.10 level and pretty much bounced off it. That would have been a great short if you took it. Of course you saw the hard sell off after hours as a market reaction to the Fed rate increase.
I'm still waiting for more opportunities to short this market, even if it does continue to move a bit higher. We'll see how it goes...
Friday, February 19, 2010
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