Thursday, March 3, 2011
Gap and Runs
I can't remember the last time we had a big gap up and a move lower in first two hours. It has almost always been a chase for risk right off the opening and we move higher substantially in the first hour. And by lunch time, we are pretty much done with the day's upside. I have a strong feeling that the algos and the quants are all over this pattern and buying hand over fist in the first 30 minutes of the day. Just an observation on a big gap up day.
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