Another Gap, This Time Down

**These are my thoughts on the SPY ETF in my Daily Trade Ideas which includes many, many more charts and setups. Subscribe to my nightly Daily Trade Ideas on the right to see the rest of this letter.**

“You must have long-range goals to keep you from being frustrated by short-range failures.”  Charles C. Noble

Chop and more chop with large gaps in not anything I am interested in.

I’m back to all cash now after selling out of AAPL at 116 from at 115.20 entry so nothing to write home about but better than letting it run into a loss.

I was hoping to hold it for a long-term trade but it didn’t let me so, next!

Cash and sun are my poison until stocks setup better.

SPY August 12, 2015SPY fell hard then recovered but all in all it’s nothing but chop and there is nothing we can do about it.

Enjoy summer.

Warren

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