Sunday, August 10, 2008
Still In A Box
Still in a box even though my box needed a slight adjustment upward so as to coincide with a minor resistance line. It's interesting to see the SPY (a proxy for the SP500) crash through 10 and 30 day moving averages. On Friday she stopped just short of the 50 day moving average.
I still think the SEP 136/138 call spread was a good choice, it is going to take a massive upsurge through all kinds of resistance to get up there by SEP expiry.