S&P...1387---?

as discussed last night, well maybe as I thought last night...S&P 500 is flirting with very important level of 1385-86 right now.
“With house prices falling, wages failing to keep pace with inflation and job worries growing, we suspect that both confidence and spending will remain under downward pressure,” wrote James Knightley from ING, therefore, that level will most likely be breached? I will take SPY's (S&P 500 SPDR ETF) from 137.05-.40 (1374-75 ----S&P) -140.40 (1409.75 ----S&P), by going with trend.

Oil: $116.50/barrel as I type.
(1 barrel = 42 gallons)

good plays long and short, XLF, XLE, QQQQ, SPY, IWM, AAPL...

if your "day" trading, keep that ratio to ideally 3:1, never try to gain 1 point and be willing to lose 3, makes no sense, be on the opposite side of that, profits will develop.

going to get the Journal and study, happy trading and good luck!