The collision of global markets and social mood

Thursday, April 5, 2012

The Last Level

Got filled practically at the low of yesterday and am not happy about it. The bounce was lackluster and Friday is a holiday. I used SPY weekly options, so with the futures down this morning, it looks like I gave my money away.

The last level I'm looking at is 1386.87. It is possible that price can get just below there and still get to new highs, but it's not something I'm playing today. I'll be in Wait and See mode. The downside, should the market fail, is too great to mess around with while not in front of the screens.

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