Buy The Fucking Dip?

NOOOOOOOO!!!! SPY is trending down, if your not short yet, wait for a dead cat bounce for a better risk-reward opportunity to go short. $SPY broke not only  below 129.67 on heavy volume, but also the bear flag it’s been forming since May 18, 2012.

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Downside targets on SPY 124.89, 122.75,  120.04.

I wouldn’t be surprised to see those targets get hit in the month of June. Panick selling started last Friday and bear markets usually have a bigger and quicker flush down than slow uptrending grind.

For long term investors, hold on to your seat belts, if you thought last summer was bumpy and it made your head spin, this one is gonna make you doubt if you should ever invest in equities anymore.

For traders, the increase in volatility is going to be good. as we can see extended moves to the downside. Going Long on equities might make you an investor from a trader, if you don’t cut your losses on long positions. It’s going to bring a lot of opportunities, be ready to flip on a dime.

If you want to see real time how I navigate through these markets

Follow me on twitter https://twitter.com/#!/dchsn6

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dchsn6

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