Thursday, June 10, 2010

Gap Down Signal

With traders unwilling to chase strength, I expect a gap down for Friday.  The bears have been maimed today, they can take a couple of these 3% whoppers, but 3 strikes and you're out.  We are going higher and likely to bust through 1100.  I am staying away from the short side for a while.

3 comments:

Petsamo said...

I made a trading mistake for today. A surprise gap down would eliminate that mistake. So, I'm hoping for a gap down. :(

Petsamo said...

We've had 3 surprise gap ups. I'd like to see a surprise gap down tomorrow (I made a trading error). A gap down will correct my error.

Anonymous said...

Retail sales at 8:30am may set the tone for tomorrows trading