YM Traders

Did futures just dropped 50 points after midnight or am I dreaming? This is one helluva bad month for MRC, sorry for breaking the spell.

My short position is 30 points in the money....Before midnight it was in the red...

Myth: Overnight futures always gap up.

Verdict: BUSTED!!!


Edit: Make it 40+ in the money. Just dropped another 12 or so points....
 
Quote from Pekelo:

Did futures just dropped 50 points after midnight or am I dreaming? This is one helluva bad month for MRC, sorry for breaking the spell.

My short position is 30 points in the money....Before midnight it was in the red...

Myth: Overnight futures always gap up.

Verdict: BUSTED!!!


Edit: Make it 40+ in the money. Just dropped another 12 or so points....
More...




Better cover before the gap fills, or better yet before we run to 11200.
 
Closing futs shorts, it was a long frugging weekend, especially with the almost-catch of the #2 guy, and the brainless grind on Monday holiday open.

Nikkei took the biggest drop since last April, http://www.bloomberg.com/apps/news?pid=10000080&sid=ahHZQv5wUndk&refer=asia

Gold Falls From 25-Year High on Concern Gains May Be Overdone
http://www.bloomberg.com/apps/news?pid=10000086&sid=aoZiThcMV4VU&refer=latin_america

And...

Welcome to earnings season! Let the games begin

(Today I think there will be a weak-a** high during the open and then steady decline, see you at the bottom :D )
 
Quote from volente_00:

Better cover before the gap fills,
More...

Unless we rally 70 points from here, we are looking at the 2nd breakaway gap in 1 week. Quite rare indeed, I must admit....

I guess we have just spotted our 2nd black swan. Is this mating season or what? :)
 
pekky, getting very interesting wit h th e swan thingie......I am trying to piece together the systems here....keep talking....so swans trumpet....now should i look for a trumpet pattern? thanks so much....... or the swan's behind as he is headed up?
 
Quote from Pekelo:

Unless we rally 70 points from here, we are looking at the 2nd breakaway gap in 1 week. Quite rare indeed, I must admit....
More...

Doesn't it make it even more so as the gaps are against the trend?
 
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