Fuinhaz $SPY morning update May 4th, 2012
$SPY just taking out all of the moving averages, and some. no real support until 136.64 in my honest opinion. I mentioned that this kind of move could happen, when you have a lot of talking heads, saying the market is cheap, this is a good opportunity to buy. It is true that prices are attractive, but sorry we are in May, and this is a month known for selling.
So please don’t be in the illusion that these talking heads are out there to help you time the market, they are out there looking to cash in your silliness and lack of experience.
May you all have a good continuation of your day.