**These are my thoughts on the SPY (NYSE:SPY) ETF in my Daily Trade Ideas**
The beautiful thing about learning is nobody can take it away from you. -B.B. King
Weakness seems to be setting in once again with miners & precious metals about the only exception.
That said, we may well rip higher Monday.
Dips have been bought, but the world is in a tumultuous place going into this long weekend so who knows
All I know is gold is strong and jitters are everywhere in stocks.
Cash is a great place to be while markets are acting poorly and that’s where I am with the exception of mining stocks, for as long as they continue higher.
While SPY is at a buy level, if you are playing this range, using tight stops, who knows what will transpire in the world this weekend.
I’d be nervous being long right now but if we hold 232.50 Monday then we should move back to the upper level of the range at 237.50.
Time will tell but we sure do live in interesting times at the moment.