Jeff Kilburg Wants To Sell S&P 500

Speaking

, Jeff Kilburg said that he would sell the S&P 500 at 1,999. He thinks that the market had a tremendous run in August and it seems that it is a little bit overdone. Mr. Kilburg explained that with a decrease in QE in 2014, the companies started to decrease their buybacks. In his opinion, that means that managers find current prices a bit expensive. His target price for this trade is at 1,974 and he placed a stop loss at 2,011. The trade offers 2 to 1 return. If the market rallies he would lose $600 and if it declines he would win $1,250. Scott Nations thinks that if the S&P 500 declines below 2,000 level, many traders would find it tempting to sell short. The S&P 500 index closed today's trading session right at 2,000.