The collision of global markets and social mood

Wednesday, May 11, 2011

S&P Heading Lower Without Me

I tried buying SPY puts twice yesterday and dumped each tranche, not wanting to take any heat when I wasn't feeling 100%. I really shouldn't have been trying to trade anyway.

But it does hurt to see the S&P imploding after getting to the sell area that I was looking for (62% retracement from Thursday lows).

I'm not going to get upset about it. I've got computer issues today in addition to still feeling pretty tired from Monday's mercury removal session.

On my other laptop right now. Turns out they do computer house calls here in Austin. We'll see what the verdict is when the guy shows up in a few minutes.

Take a look at the gap on the S&P at 1312.62. While the S&P was just 4 points away from the confluence zone I was targeting, it just might have the gap in mind.

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