This is more like it. support held, and we said at least 1190, 1200, and index is delivering.
Remember the put I talked about yesterday when I had some built-in S&P point. Now, for the portion bought yesterday around support, I would like to either take profit and/or sell calls, do something to make sure I make money on that trade.
Positions from lower levels should be easy to manage depending on how paranoid/risk-averse one might be.
We did the hard work into the drop, the bounce can be used to tidy account according to one's own risk parameters.
We have been ranging 1175-1200-1225, and bulls need more than a day of creaming the bears to turn broader breadth and momentum around.
Have a Nice Day!
S&P 500 – May 15, 2012 - Bottom Line: Long term trend is up. Mid-term trend is down. Short-term trend is down Weekly S&P stage is Late Advance (2-C) Daily S&P stage is Strong Decli...
1 year ago