I see the markets falling apart instead.
Let's see who is right......
Midnight rally
- Thread starter Rickshaw Man
- Start date
I see the markets falling apart instead.
Let's see who is right......
Ok no problem, you must be new to the midnight rally.
Man you pretty much nailed it, just get long towards the close of the equity markets. I know its earnings season, but I just try and ignore it. I give myself a 30 point stop. The real discipline for this is I have to get up at 3:30 am cst and start looking for an exit.
If one were to occur here it would be ugly.
I have noticed that in an uptrend (prices greater than 50 period moving average) it pays to hold it into the next morning. For instance right now I am bullish anyways ---so holding into tomorrow makes sense. In downtrend, in my experience you had better be gone by the next morning. So you use the German openings as a proxy. I got ya. It is a good money making pattern especially with some discipline and some chart reading skills.
Another one I have been making money off of is to wait for the late in the week crude rally. It is not as simple as buying toward the close but Crude usually rallys toward the end of the week. Sometimes it is thursday or as late as friday ----everyone plays that one. It is based on the fear of holding any shorts over the weekend.
Today the market really could not get any upwards momentum, thats why tonight is the perfect time for rally.
The best time to buy for the overnight rally has been around 3:00 pm eastern time-----------get in and ride the end of day pump to be "green" going into the overnight session------why wait until 4:15-----------hahahaha!
Im done, made a bundle as I slept, man what a job. I am going to let all the day traders slug it out for a few points today. Me im ready to play some golf before it gets to hot. I will check back late this afternoon, and look for a possible new entry. Man what a job.