Purely Technical - Nightly Commentary (December 12, 2006):
We think that there is a chance that a short-term top might be in place on the SPYs. MACD is showing a negative triple divergence, which hasn't confirmed as yet, but it won't take much of a decline in order for that to happen.
We're looking to aggressively short the SPY at Wednesday's open, and play with a trailing stop of approximately $1.00.
Please find updates to this trade idea and more Stocks and Options picks at our
public listing at stockcharts.com
You can find more Options and Stocks picks at our
public listing at stockcharts.com
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