Friday, February 5, 2010

Program Buying

A fund is swooping in to squeeze the shorts and that has pumped up the averages.  This sets up a beautiful gap down opportunity for Monday.  I will be selling the close looking for a gap down on Monday as long as we close above 1061. 
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5 comments:

  1. Anonymous2/05/2010 03:58:00 PM

    Dude you're gonna short here?

    That's crazy. We could go higher on Monday.

    ReplyDelete
  2. Anonymous2/05/2010 04:00:00 PM

    Epic day on the SPX.

    What a reversal.

    I would have killed it today if I was still daytrading.

    ReplyDelete
  3. Anonymous2/05/2010 04:01:00 PM

    Bet some daytraders had 100K days today.

    ReplyDelete
  4. Market Owl2/05/2010 04:05:00 PM

    I am short. I think we gap down on Monday.

    ReplyDelete
  5. Anonymous2/05/2010 04:12:00 PM

    Well I hope it works, I'm still 60%long. I think we can go a little higher.

    The selling the last week was just out of control and I think the bulls are going to want their revenge a little bit more than a measily 20 points.

    ReplyDelete