Time to Short the S&P
Yesterday, the S&P 500 plunged to its lowest intraday level of the year, grinding below 1075. Late in the day the index mounted a spectacular rally to close at its highs of the day.
I laid out the case Tuesday for selling the index short with 1123 as our entry point, should we get the opportunity. That opportunity presented itself just before the market close and we're now short the S&P 500. As of this morning, the e-minis and the continuous contract have also touched 1123....462 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.