Thursday, April 19, 2012

Getting Ugly

I am waiting for that zone, we are fast approaching the buy zone.  It looks like no one wants to hold risk overnight, with Europe trading horribly.  A gap down tomorrow would be a buying opportunity.

5 comments:

Anonymous said...

Probably will gap up tomorrow just to screw with both sides.

Market Owl said...

You called it. The gap up after the afternoon swoon. It never fails.

Anonymous said...

Unless the ES gets back above 1380 on Sunday, then I expect a gap down on Monday.

Market Owl said...

That's like saying if it doesn't go higher, I expect it to go lower. LOL.

I expect a gap down because of post options expiration hangover.

Anonymous said...

I base my decision on price, noting else. Friday's close was bearish, but did not break any key support, so still could go either direction. Break 1368-70 or 1380-82 for a bigger move up or down. Price actually close a little above the middle of the 1352 to 1390 trading range, and by definition neutral.