March 9, 2009

SPY

Very sharp downtrend since 79.67 high on 2/26. Volume up 5 straight days as moved lower. Downtrend probably too steep to go short based on that trend - could not go higher than roughly 3/6 close without breaking trendline. Stop would be too tight. 3/6 close 68.92.
3/9 bm


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