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Is 1300 On The Way Again Soon?


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#1 Macro Speculator

Macro Speculator

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Posted 25 July 2012 - 03:01 PM

This market is weak. Weak fundamentally in just about every way imaginable and increasingly weak technically. Still holding all the SPY puts I've been acquiring the past few weeks at 1320-1360. Will cover some on a move to around 1290-1300. Will look to cover the rest at under 1250. If we get a bounce following a move to 1290-1300 I'll move to a full short position again on any rally to 1315-1320.