Above is a chart of the SPY, the index fund of the S&P 500. As shown, we closed at 883 and we have several levels of support below. The first support level is the 20 day at 880. The second level is 875 and the third level is 800. Alot of the hardcore bears say we are going to 650 but I doubt it. My personal view is that WORST CASE we will retrace to 770. I'm not calling it but it's in the cards. As for tomorrow, I wouldn't be surprised to see us bounce higher but the " rf voices" are on vacation until further notice.
WE BOUGHT THE TODAY'S DIP. MONEY IS GOING INTO SAFER STOCKS BUT WE BOUGHT SOME BNS, F, TGT, POT, INTC, AMD, and AAPL.
ReplyDelete*IGNORE THE "THE"....RF, IS THERE AN EDIT TOOL? IT WOULD BE NICE.
ReplyDeleteno idea about the editing tool, i don't see one, so i guess no.
ReplyDeletei bought some F as well. I was thinking about buying AMD but it's had a huge move. POT is a great idea, it's got some serious juice. I doubt it will get to $250 again but I wanted to buy it at $75 but honestly can't read the stock.