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Buy The Gap


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#41 TechMan

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Posted 18 August 2011 - 02:30 PM

I didn't mean it to sound bad, Techman. If I did, I am sorry. Sometimes we are caught in the moment and we need a shake up. I was part of the sleeping crowd last week, "hoping" that market will rally. The print of 1200 on SPX this week did a world of good, but I am wide open this time with stops either way. I tried a send a message earlier today but your message box is full. Good luck is all I can tell you here! :)


It's hard to keep up with that small mailbox. Thanks for the well wishes. I understand what you're saying.

Anyway, with the volatility spike, my discipline is to trade the direction rather than the range. Wouldn't you know it, it's been in a narrow approx. 10-point range all afternoon. Still, things look quite bullish to me despite the crash.

#42 DrSP

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Posted 18 August 2011 - 02:39 PM

Thanks. I forgot one more thing i.e., margin calls. I don't know when they will kick in, today/ tomorrow/ Monday but that again will be a washout day even if we think today's sell off is marking one of the bottom days.
You could be a billionaire or an industrial worker or a teacher or a moderator of a forum - Hold a good conscience because that is what matters.

#43 TechMan

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Posted 18 August 2011 - 03:00 PM

Well, the final 15 minutes looked like the beginning of Phase 1, the Short Covering Phase, of the reversal that I had expected to happen earlier this afternoon. But, at least it's in the process of doing so. We may finish it tomorrow and advance to Phase 2, the Short Squeeze phase.