Watch 665 get busted tomorrow LOL! I think the risk reward here is good. Even if the market continues to fall apart here, the market will come back up and test 740. Gotta come back and test 740 former Bear market lows of the decade if the market is going as low as everyone says it is. Also Sentiment here is horrid as I can only find one bullish guy in all of TT. That has to be some type of record. Even Buffet sounded like he was ready to give up in his annual letter to Shareholders today. So I moved 25% of my 401K from from Bonds to S&P500 Spartan Fund.
I am not hard headed though if 665 gets busted which is the 61.8% retrace from SPX 100 to the top then I will concede I was early.
http://stockcharts.com/c-sc/sc?s=$SPX&p=M&st=1982-01-01&i=p79044239927&a=156227285&r=2301.png
Edited by hedgehawk, 02 March 2009 - 08:05 PM.
