Thursday, June 16, 2011

Gap Up Signal

Triple witching opex forces and the intraday action point towards a gap up tomorrow.  We've basically gone nowhere for the past 5 days of trading but have built up a base of bears during this churning period.  You gotta buy at 1255-1260 and sell at 1285.  That is the new range for this fear based market.  Greece can will be kicked down the road, I expect nothing less from the ECB and the IMF.  The bankers will win again, holding the systemic risk card as a threat for receiving bailouts on their PIIGS bonds.  The losers will be the peons who hold no stock, no wealth, and have no skin in the rigged game.

3 comments:

Anonymous said...

Ha! Give them peons a damn good thrashing!

The Hook said...

You mind sharing anything about your signal? Thanks

Market Owl said...

It is based off the intraday trading over the past 5 days. More likely to get a gap down signal when overbought, more likely to get a gap up signal when oversold.