Tuesday, May 26, 2009

Dip Buyers Win Again

Just when things could have gotten exciting on a break of SPY 88 -- dip buyers stepped in and thus far have won the day.     

  We wrote in our newsletter this weekend: 

"Strategy for strong market: If we break minor resistance 90 convincingly we'll try some longs.  Strategy for weak market:  through 88 and we could be in for a trip to the 50 sma and we'll be looking short."