This market is REALLY oversold, thinking of going long SPY tomorrow - thoughts?

Answers

EthanR answered a question in ETFs and Funds.
4075 points

EthanR answered 8 months ago …

If the jobs report is really bad, after an initial sell off it might just wash out the sellers, but I think the bounce would be really short lived. If the jobs report is better than expected, we could get a very large rally that would go for a couple of days. Watch out if the market does go higher, for an end of day sell off, that has been the recent pattern, as nobody wants to be long over the weekend. Take your profits before 3:15 PM or so if day trading.

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