Quote from FutTrd:
your are dumb, you know how I know
you ain't holding RIMM overnight
another reason you are dumb, you are probably not a day trader,
you do what 80% a year, for me that is laughable
another reason you are dumb, you are stuck in one market,
I have strategy for forex and futures
I wouldn't be surprised if you don't know shit .
but if you want to be smart, buy RIMM if it opens within reason, probably it won't
and have your predetermined stop just in case
now you can say THANK YOU SIR.
Oh I know you're good. After all, you're dedicated enough to be posting on a Saturday night rather than enjoying the fruits of your labor.
And, buying a 16 point gap, rather than at $63 in August or $86 Thursday is indeed shrewd. Ditto for being satisfied with a sliver of profit over a 40 point gain. Truly a nobleman.
In fact, I'm getting a clearer meaning of the adage "jack of all trades, master of none". Self-proclaimed daytraders, with inordinately large position size generally don't hold overnight, particularly if NOT green.
Of course those late to the party, having bought the gap open at $102.20, experienced a close of $102.65. Translation, 45 cents per share green and........ 34 MILLION shares churned. There's safety in numbers.
You're right, I don't know shit. That's why I consider any gap a synthetic price point and a whopping 16 point gap as the ax moving away from his long basis. The ax is also the raising of the guillotine.
As such I'd consider the gap an eventual invitation to "fill me". Average true range has ascended to a six month high at $3.21 per day. Symptom of a mature trend and lots of decsions. Of course a day trader doesn't give credence to trend, just whatever moves to bang out dimes (and tell the world about it). Let US know just how many cents you snag, OK?
Attached is a real chart, which wouldn't mean anything to a saavy individual, such as yourself. But then, neither would the notion there's ALWAYS someone on the other side of the trade.
