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To: Galirayo who wrote (6450)5/3/2008 11:28:53 PM
From: skinowski  Read Replies (1) | Respond to of 41637
 
Must agree.... SPX retraced just about 50% of the Oct - March decline. It is certainly already in the territory where a corrective rally may roll over. I'm selling longs on strength, but not shorting yet. So far just a few leap puts, that's all. Not in the mood to be a hero... been there, done that - too many times... -g

My feeling is that the advance has not played out yet... but who knows. I'd like to see more bullish exuberance.