Wednesday, January 14, 2009

Back to the lows?

There is minor price support right here for SPY. If that is broken, next support is at the lows around 75.

The rally seems like such old news now. That said, the market is oversold, and if it gaps down at the open on the AAPL news (Steve Jobs taking a medical leave), it might be a trading opportunity for the nimble. I am looking at expiration on the 17th.

Positions: long TLT

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