I posted a comment [in prior post today] a few minutes ago that I just went long S&P Sept. E-minis. I have a ton of buying power in my futures account and it gets better tax treatment than if I bought SPY, etc. in a stock account.
I got mine at 1511.75 when S&P 500 cash was about 1495. I might buy more. The 1510 level in the Sept. contract was around the 31.8% Fibonacci retracement level of the its move from about 1400 to 1560 (Sept. contract). So that seems like a place to start of light side TRADE.
I think this down move has no reality & there has been three days of liquidation. This is NOT for the timid.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment