Wednesday, January 9, 2008

Market Update: S&P500 (SPX)

Following yesterdays post the bounce failed to materialize. The SPX did briefly break 1425 to 1430.28 before failing and falling to 1390.19 to close. As I said in yesterdays post 12500.00 is most likely the next stop. So tomorrow it's easy, we will short the S&P500 (SPX) with the SPY and stay short under 1400. As I believe these market prices are based on Ponzi finance and doomed to crash there will be no stop for now. I do not want to let the plunger gang push me around. If the SPY should break up through 140 I will go long the IVV until it eventually turns back down. The only question is position size. If the market opens in an orderly fashion take a full position, otherwise take a half position and add on a retracement.

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