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SPY Breaches Key Support Level

 Aug 13, 2008 03:44 PM UTC
Return Risk
-7.99% LOW
Tracked Blogger
Symbol Sentiment Start Return Closed
SPY Negative 08/13/08 +29.19% --

Graphic_arrow1 Via The Market Speculator:  

As I noted in the member only Trade Report two days ago, I took an early entry short position in SPY (via short ETF SDS)based on the idea that a failed breakout could lead to big gains, while continued up move would stop me out for only a small loss.

Today we got the breach of the 50 day moving average (as of 11:45 ET). The next key level is the long breakout bar posted 4 days ago. If that




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1 17.80 +39.28% 78
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