SPY Thoughts October 21

**These were my thoughts on the SPY ETF to subscribers in my Daily Trade Ideas which includes many, many more charts and setups**

”We are what we repeatedly do; excellence, then, is not an act but a habit.”—Aristotle

A great Friday with markets and stocks rising well.  We’re seeing some great strength here and trying to take advantage of it as best we can.

This is a long report with several positions on now and several more who have really got my attention.

Unfortunately a few gaped above my buy point like AMZN and BIDU, on great GOOG earnings.

This could be the start of a huge run into the end of the year so let’s get right to it and look at many charts today.

SPY October 21, 2013

The SPY is working well here.  I’m still fully long from my entry at the $171.30 area and I’m raising stops here now.

I’ll raise half my stops to $173.75 and leave the rest at $173.30 for now.

Not much else to say other than the action is excellent and this one wants higher still.

Have a great rest of the weekend and Monday

Warren

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