Getting ready for a big gap up
#1
Posted 31 May 2007 - 01:21 PM
#2
Posted 31 May 2007 - 01:23 PM
Edited by hiker, 31 May 2007 - 01:26 PM.
#3
Posted 31 May 2007 - 01:26 PM
I am scaling into longs here. Unemployment report is a guaranteed gap up. By the way, it could be a shorting opportunity (short-term). Shorting tomorrow or not, right now it is important to get ready for the scheduled unemployment report pay check. The only concern here is that the gap can only be up 2 or 3 points, which represents very little profit and it will be hard to short.
Denleo
I think it will accellerate up from here. DOW 14,000, SPX 1,555. I dont see it gapping down personally. Bears are getting mutilated.
The future is 90% present and 10% vision.
#4
Posted 31 May 2007 - 01:31 PM
#5
Posted 31 May 2007 - 01:44 PM
#6
Posted 31 May 2007 - 01:45 PM
Nonetheless the employment report should once again provide a small reaction which does not change the trend, which is up
We already had a gap down this week. One is enough.
Report analysis:
We created many jobs = economy is strong = bullish
We created the expected number of jobs = Goldilocks = bullish
We created very little or lost jobs = less inflation = bullish
So the first reaction is a spike up. GUARANTEED!!!
Denleo
#7
Posted 31 May 2007 - 02:04 PM
I am scaling into longs here. Unemployment report is a guaranteed gap up. By the way, it could be a shorting opportunity (short-term). Shorting tomorrow or not, right now it is important to get ready for the scheduled unemployment report pay check. The only concern here is that the gap can only be up 2 or 3 points, which represents very little profit and it will be hard to short.
Denleo
I know nothing about "reports". My model shows NEGATIVE or SMALL DOJI day tomorrow, followed by 3 days RALLY after that. Will see....
#8
Posted 31 May 2007 - 02:11 PM
#9
Posted 31 May 2007 - 02:31 PM
#10
Posted 31 May 2007 - 02:33 PM
We already had a gap down this week. One is enough.
Report analysis:
We created many jobs = economy is strong = bullish
We created the expected number of jobs = Goldilocks = bullish
We created very little or lost jobs = less inflation = bullish
So the first reaction is a spike up. GUARANTEED!!!
Denleo
I agree with your forecast for the gap.... and your reasons are very creative.