SPY (05 Dec 2008)

SPY is still showing no signs of direction, I won't be playing the indexes. It might seem that there is not much going in the markets...actually there is. You will need to drill down to those individual stocks to see the action.

Today we saw commodities continue to decline, I have no short positions for commodities at the moment. But I think, commodities are setting up for a move soon.

If you remember GS...on how there was a sell of day after day a few weeks ago, I hope you see what I mean. If there is any big move in commodities...it is going to be a shocker.




AZO, FDX, FSLR will have a big move soon; they are all in different sectors and are showing different price actions. (Click on link to drill down)

As for the SPY, if there is any big move to the upside or the downside. Here are the likely
targets.



If SPY goes up, I plan to go for the TNA, FAS, ERX. It all depends on whether commodities wanna move or not...if not I will just leave out ERX. Ideally I like FAS to pullback a little bit for a cheaper entry.

As for the downside, I prefer to use individual shares to get the maximum effect.