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. 

5 comments:

Anonymous said...

Dude you're gonna short here?

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

Anonymous said...

Epic day on the SPX.

What a reversal.

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

Anonymous said...

Bet some daytraders had 100K days today.

Market Owl said...

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

Anonymous said...

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.