Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 691.79

+0.6%

4:00 PM EST

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To: Chip McVickar who wrote (65180)	10/13/2014 4:25:23 PM
From: FCom777	Read Replies (2) of 221364

On a day like this a time entry works best - for today - at the close. Banks, Fed Govt, and most importantly the Bond Market were closed today for Columbus - believe volume was relatively light and 'da boys' could just be taking the opportunity to stretch the down side a bit here. If so, big money should flow in the morning - my guess between 8 & 9 - and SP will be up at least 10 points and be strong thru the day. Not the best bet but not too bad either ... We could well move lower - and likely will in time - but a small position here makes sense to me given how far we have fallen and the likelihood of some intervention in the morning. Bought some SPY 191 Oct 18 Calls a few minutes from the close. Options are a good way to play it since SP really could surprise and go down quite a bit. Think chances of that are low but it is definitely possible. We are kind of in no mans land here ... which is some times a good time to pick something up a quick trade. Good Luck !

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