S&P

Tuesday 19 May 2009

There has been a decided absence of supply
the past few days, and S&P is now in an area
where supply was active, first week of the
month.

The message of the market for now is, there
are not sufficient sellers willing to take a
stand.

Take a stand to the sidelines on the short
position. Cannot fight the tape.

Cover short position at market, 913.50


Sell 908
Buy 913.50

Loss = 550 tics, $275, plus commission