Opening a Ratio Call Spread

If it isn't nailed down, then it is being sold today. Bounces have been anemic thus far. I'm seeing a few intraday bullish divergences pick up, but those have only been good for four to five handles on the S&P 500. 2014 has definitely been the polar vortex of equities with a cold chill sweeping over both intraday buyers and overnight holders.

We have a short term oversold condition that we should work off in the next day or two, so don't be shocked to see the SPDR S&P 500 (SPY) make its way 12 or 15 handles off the lows in quick fashion. I am trying to figure out if we have seen the low already or if we have one more flush coming tomorrow. I tend to think it was today, but that is a tough call....270 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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