SPY is down significantly AH
Posted by Jack Haddad on January 30, 2008 at 3:31 pm
Folks,
The shares are down significantly AH. Were down 13 handles on the futures. Not looking good for tomorrow! I’m not looking to cover the shares anytime soon. However, I will not hesitate to take profits as i see fit.
From a technical perspective, the gap down to 129.80 will fill. We may very well fill that gap tomorrow. You have to understand the market is a “discounting mechanism.” That said, we have rallied nearly 910 points to discount today’s rate cut. Hereon, party is over!
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