Adjustment Watch Update
Tue, Oct 18, 2011 | Frank
It’s been a see-saw morning, with SPY retracing virtually the entire $1.25 pre-market rally and then running all the way back up to $120.75 after better-than-expected housing-market numbers. At the moment we still have a tentative signal to adjust BF#2—but since we normally make adjustment trades on end-of-day signals, and the immediate downside threat has waned, I’m inclined to wait until the last hour of the session as long as support holds in the SPY $120 to $120.25 range.
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