SPY Thoughts February 28

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

“In investing, what is comfortable is rarely profitable.” Robert Arnott

Another day with good market action and many stocks moving strongly.

There really isn’t much to say other than continue to buy this wave higher.

It’s been working for over a year and will until it stops.

Let’s just move right into the index chart before we look at many stocks once again tonight.

SPY February 28, 2014SPY is ready to go now.

$186 is the buy area and in fact I really liked the close and bought some SPY options that expire tomorrow right at the close with only a few seconds to go.

Sometimes if you like the action at the close you can make some great buys that pay off well right away the next day.

I have a feeling that will happen with my SPY position but if not it won’t be the end of the world.

All in all, this week has built a good little launchpad as I said last week we needed.

Great stuff.

Have a great Friday and weekend.

Warren

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