Wednesday, April 20, 2011
Monster Gap Up
The pattern has usually been for big gap ups to have follow through and make higher highs intraday but that pattern has been broken over the past month. Since we're gapping up where there is a lot of resistance 1325-1328, I don't see us powering through to new intraday highs. If we do, that will be a big sign of strength. It is too late to chase, I am just going to wait for a good shorting opportunity, as I believe the next 50 points will be down, not up.
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