understanding the psychology of behavior

I am seeing signs of being oversold, and wanting an oversold bounce. But I am also seeing signs of downward pressure.

Possible scenario is that the market rises for a bit, maybe the SP500 goes to 1280-1290, then the risk is back to the down side. (Unless some fundamental positive catalysts get pulled out of a hat.)

Will look to add to my continuous market short via 130 Oct SPY puts if the SP500 sees 1280-1290.

This entry was posted on Thursday, August 21st, 2008 at 12:58 pm and is filed under markets. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.