Tag archive for ‘gap’
Chart in play
Today’s chart in play helped us to see the potential dynamics as they were, rather than get faked out by our emotions of greed.
The primary morning trade we were lucky enough to get from the 23 high, with scale out partials and a major target at the 16 area.
“We better respect that 15.5″ turned out [...]
Continuation Continues
Friday’s close was bracketed by the overnight open and the globex low.
We suggested in Friday’s column that the vix divergence may signal a bounce. So far, so good.
Turkey day is around the corner, and the market needed to make up some time for the lost day or two, so it was off to the races [...]
Ms Direction
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Unlike the NFL, the formidable Ms Direction showed her face today with an old play an no new twists.
The gullible, blind, newbies, and intellectually lazy were the only ones caught by surprise if they bought pullbacks today.
Friday’s last hour heroics and then the overnight ramp in light volume left little to be done other than [...]
The Plunger
After the huge gap down open, today’s move was sideways range trading until the nasty late day plunge that squeezed the early longs out, then squeezed the late shorts who didn’t recognize the EOD trade.
What a game.
The Boys took away 35 points of travel range overnight, leaving the shorts worried about shorting too low all [...]
Freaky Friday
The best words of advice I know:
If it’s too low to short, go long.
Manage the range trading.
Expect the unexpected. That means traps on both sides.
Stay one step ahead in thinking and figure out “how the most traders will be confused.”
Economic news is the order of the day, and manipulators use this to move the market.
We [...]
Deja vu
These wonderful lines are from the movie deja vu.
Doug Carlin: What if you had to tell someone the most important thing in the world, but you knew they’d never believe you?
Claire Kuchever: I’d try.
[last lines]
Claire Kuchever: What if you had to tell someone the most important thing in the world, but you knew they’d never [...]
Fire works
Friends emailed me their thoughts premarket, both theirs and some “gurus” they follow.
1295! 1288! 1303! 1305!
They were sure fired up about our promising bounce.
The higher numbers were suggested by their gurus as where we were headed today. I wondered what charts they were looking at.
The 1252 was a lower low and the reality of today’s action.
Bear [...]
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