Tuesday, January 3, 2012
Monster Gap Up on First Trading Day
What's new. The institutional money pours in and the only way to balance buy and sell orders is to raise the price. That's the gap up. It is 15 years in a row for a gap up on the first day of the year. Now after the gap up, it can keep going higher (more likely than not) but no guarantee. Only the gap up is the guarantee.
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3 comments:
we close above 1285.. next stop 1350
I'm debating whether to short some financials here.
Probably short a little MS. @ 16
I think the best sector short is emerging markets. Financials are also good shorts. Market looks like it will dip soon. Perhaps down to 1220-1230.
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