zagged when it should have zigged

[regough]

Anybody else getting ready to go long just about the time(09.50) when the floor fell?

I would have thought the market would go up on strong consumer confidence numbers-

Oh, well. . .

 

[hii a_ooiioo_a]

Market likes to do what is not expected of it.

 

[mgkrebs]

Bought the high, got head handed to me. Got short on 1.5x the size of first trade, made it all back. Up net $1 on the day. Let the weekend begin.

 

[OVERtheLINE]

the market seeks the most pain

 

[bobcathy1]

ME TOO....I MISSED....that's what happens when one thinks too much.....:eek:

 

[indahook]

went short SPY pre-mkt at 88.36..be wary of gap ups untill we penetrate the 200 ESA with conviction ,IMO of course
good luck to all!!!!

 

[CoolTrader]

Quote from indahook:

went short SPY pre-mkt at 88.36..be wary of gap ups untill we penetrate the 200 ESA with conviction ,IMO of course
good luck to all!!!!

I am amazed you could fade a gap open like this. Compared with the gap open on 4/2, which doesn't close, could you tell the difference between them? Thanks.

 

[JT47319]

Sell the news, as the old maxim goes. The Michigan sentiment # was good, but it wasn't a surprise.

 

[dbphoenix]

Quote from CoolTrader:



I am amazed you could fade a gap open like this. Compared with the gap open on 4/2, which doesn't close, could you tell the difference between them? Thanks.

You go with the odds. 71% of these gaps (at least on the Naz) fill. So, the odds are toward a fill.

--Db

 

[indahook]

I am amazed you could fade a gap open like this. Compared with the gap open on 4/2, which doesn't close, could you tell the difference between them? Thanks.

NP , Cool. S+P futures kinda trading in a little range minus 4/7,right? So when they had them up at the top of that range pre-mkt I figured i`ll sell em and if they broke the top of the range at 885.36 that would be my stop....