Monday, May 10, 2010

Feed the Fish

You rarely get such a golden opportunity to fade a gap and today is one of those days.  4% up on the futures and on news of a EU bailout. Reminds me of TARP.  Once the euphoria wears off, we will likely see lower prices.  Maybe then, it will be time to buy.  The open is a time to sell.

2 comments:

Anonymous said...

Markets are holding up well, maybe no fade?

Market Owl said...

Today looks like a dud. I think we'll have more aggressive sellers tomorrow. Stuck shorts and panicky underinvested longs are keeping this market up.