SPY gapped up and hit the high made on 10/25 which acted as a strong resistance. Initially it looked like a retracement to 5 EMA but price tumbled. Took partial at R2, next at R1 and let the remaining run which was covered near $118.00
Monday, November 1, 2010
Short: SPY
Started the day with longs in ACI and LVS. Closed both for small losses. The only trade that worked was SPY short.
SPY gapped up and hit the high made on 10/25 which acted as a strong resistance. Initially it looked like a retracement to 5 EMA but price tumbled. Took partial at R2, next at R1 and let the remaining run which was covered near $118.00
SPY gapped up and hit the high made on 10/25 which acted as a strong resistance. Initially it looked like a retracement to 5 EMA but price tumbled. Took partial at R2, next at R1 and let the remaining run which was covered near $118.00
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