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Berger: The levels to watch as I short the S&P500
Trader, Serge Berger, is looking to short the S&P500 this Monday. He remarks that last week the index dropped around 3%, bringing its total sell-off from highs in September to more than 5%.
Serge says from a momentum perspective, the S&P is over-sold. However, given the strength of selling last week, Serge could see the index drop lower, towards 1,890.
So, Serge is shorting the S&P500 at 1,965.
He has a target of 1,900.
The stop-loss is placed at 1,990
01:24 minutes
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