Novice Trade: SPY

The pattern the last few days has been buying the open and selling the last hour of the close. Today is different, though. As I am writing this traders are trying to tank the S&P 500.

It could be traders trying to front run the afternoon swoon. If I know anything about algo trading, it's that it tends to go where the easiest move exists. With shorts now set up around 271.25 in the SPDR S&P 500 ETF (SPY) I think there is a strong chance we could see the S&P face rip to get shorts to cover. I do not think it means any change long term, although I would point out that bonds are holding green today....129 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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