Bucket 2: Bought a very small position in SPY

stocks finished well off the lows but still a weak day overall.  GS and AAPL lifted well off the lows and we have reached some decent support levels on the broader indices: On the SPX that support level was 1183, which coincided with the 50% retracement of the move off the October lows.

We bought a very small position in SPY into the close with the intent to feed it to the ducks tomorrow should we open higher.  It's a low conviction trade for us but one we must do to test the market for any possible bounce.

Leave a Reply

Your email address will not be published. Required fields are marked *