Buy on rumor, sell on news

The old adage proved true today.  When the outline of the "plan" came out, people weren't impressed--but really, how likely was that?   I was sorely tempted to short SPY early in the day, but of course I didn't.  I would have spent the entire day glued to the screen!  Would have been a good day for a trailing stop.

      I closed out my bear spread (short SZCBC, long SZCBI) with a debit of 3.34 for a whopping profit of $32 minus commisions.  I was skeptical that the market would bounce back up much, in fact I'm expecting another down day tomorrow, but I didn't like the 7 days of trading left on my long side.   I much prefer having time be in my favor (or owning the equity outright).   Better a small profit than a $500 loss.

     I am doubting that my 78.5 debit order on SPY / SZCBC will happen, even on a down day tomorrow (looks like about 79.3 was the best it did today).  Since there are so few days left I feel better about jumping back in.