Tuesday, January 25, 2011

SPY - Correction Underway

Per my earlier post on SPY, I have waited for SPY Stochs to begin to break down and for momentum to rollover.  Today is the day.  I can now trade weekly options on my SPY so I have long puts Feb and March and will hedge weekly short puts.  My view is this correction will be greater than average for this period.  You can peruse my earlier posts as to why I feel that way.

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