My SPY trading system has identified a potential sell short opportunity at $130.74 stop limit based on end-of-day data 3/7/11. I do not short stocks, or ETFs and use put options triggered based on movements of the underlying (SPY). In fact I already have put positions to provide protection to my 401K positions as a hedge and have reduced my long positions.
If SPY does not go below $130.74 tomorrow, this signal will dispappear. Also I have read that probability models say long term upside is expected over 6-12 months. Think I'll wait for my system to signal the same, or if higher highs are made to say we are back on track for the up movement. How about you?
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