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 682.06

+0.3%

Oct 31 5:00 PM EST

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Justinfo

To: Chip McVickar who wrote (64629)	10/2/2014 11:54:02 AM
From: FCom777	1 Recommendation Read Replies (3) of 218293

Thanks for your information. I'll be real happy if we get an afternoon reversal and expect a very sharp snap back rally as this sell-off seems to be getting way over extended. In time, I expect a test of the 1958-1960 which could take a couple weeks to materialize - or sooner if history is any guide - before we potentially head lower yet - or not. If we close down today - it will be the first time all year that equities had 4 down days in a row. Dec Futures look to be at 1920 right now - my guess is we are real close to the bottom. Day's like this are great to load up on SPY out of the money calls that expire tomorrow. If we get a 20-30 point snap back rally - you get a 10 bagger before tomorrows close. With defined risk ... Looks like a good bet to me ... I'm putting it on ....

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