If we don’t hold 907 on the SPX today this is going to get pretty ugly and I think I’m going to have to cut my SSO(49.32 -0.89) and QLD(47.97 -1.24) positions for a loss. The days in Jan are ticking away very quickly and decay is starting to work against me in a big way.
I’ll be cutting these positions in all accounts as the 907 level appears to be a very important level of support.
EDIT: Orders are in to cut at SPX(1295.22 -9.64) 904 day only. If that doesn’t happen, then I’ll revisit the situation overnight.
Comments on this entry are closed.