Sunday, June 22, 2008
As Rob Hanna pointed out, Thursday was a bit of a lame reversal and we were hit hard on Friday. I'm sure expiration didn't help -- though I had expected quite the opposite. Nonetheless, it felt like overkill based on the news, but statistically Monday has a downside edge in spite of it all. Maybe well see some nice long set ups come of it. I'm looking for SPY support around 1300. By the same token, if we break lower, I'd say another succesive test of the prior lows has the potential for further breakdown still.
Meanwhile, friends and family know the Pietsch's have recently moved to Washington State. I've been a bit in flux getting set up, but now have the "big" machine up and running and will resume normal posting. Thanks for your patience these last two weeks. I'll get some trip pictures posted for fun as/if Mr. Market permits. Also, all the planning for the move got in the way of many planned statistical study posts. I'm hopeful that I'll finally get around to some of these over the course of the summer.