This gap up is begging to be faded, I don't think we'll have a big ramp ahead of the employment report tomorrow, thus I will be fading the gap up open and looking to cover mid day at lower prices. We should sell off initially and then close strong ahead of the big number tomorrow. We are ramping in the futures due to the strong push up in Europe after the ECB announcement of keeping rates the same.
I will give the bulls room to run till early next week before I put on a bigger, longer term position. Till then, I will be making mostly just quick trades.
Thursday, November 5, 2009
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