Today was the biggest gap up ever for the SPY. Here are links to the past two Trade Reports, where you can see how I outlined my plan for trading SPY:
Trade Update: I exited all my long positions at the open this morning for nice profits (SPY (SSO), USO, KSS and TOL). I re-entered SSO a few minutes ago at $56.79 (300 shares). SSO hit the exit point I mentioned last night at the open, providing what is likely the best two day trade (percentage gain of trade, not dollar amount since I had only an average size position) I have ever made.
Update 2: I received an e-mail asking why I am not trading more today. Two reasons:
1. We are in uncharted territory.
2. This is likely a huge short covering rally based on the lunacy of our government. I would not be surprised to see the market crater next week.
More info on subscibing to the Trade Report.