Textbook Rally
In our weekend note to subscribers, we closed with the following thoughts: The market seems ready to test the October lows, and if this third time isn’t the charm, look out below. Specifically, we’re watching 846 on SPX / 83.70 on SPY. Remember that it’s common for sellers to push through any GTC stop loss orders before bowing out, so it’s entirely possible that we violate those recent lows briefly before turning back up. That’s precisely what has happened so far this…
Thursday, November 13, 2008
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