5 replies to this topic

[linrom1]

I was wondering if today's action has spooked many to sell in after hour market ahead of tomorrow's open. I did a quick and random comparison of closing prices versus ask and bid after hours to look for prices below closing. What I found, is that ask prices have nicely firmed up. While this is unscientific, I just don't see gap down opening tomorrow.

[Jnavin]

Thanks for the heads-up and the good work. I don't know, though, manipulators often do their best manipulating after-hours -- that's where the best inefficiencies crop up. Could be they're just setting up for better short spots.

Edited by Jnavin, 20 June 2007 - 08:13 PM.

[Rogerdodger]

I think that's typical after a big down day.
http://money.cnn.com/data/afterhours/

[tommyt]

linrom1, so with no gap down you would probably be bearish then? the bear pattern is to close weak and gap up, then continue down. Thats what I am looking for.

[Islander]

Good point. I have been following both the after hours and international follow-on. For now the 20th might be considered an "accident", ie the intersection of several events, not the least of which was the Bear-S hedge fund scare. But we can not overlook the hell being raised in bonds. Some rumour the PRC was a net seller of treasury paper last week. That means the fed will be buying bills and notes in the AM. I suspect the PPT will be suited up for the opening Thursday, so nothing to worry about, unless they over sleep. I will be up early to watch the open in EU. I think I will tighten my stops, and hold on to the shorts. Best, Islander.

[Rogerdodger]

A big gap down would be bought and used by shorts to cover and might result in a bear raid.
However, any gap up would likely be sold.
Perverse ain't it?
But, once everybody gets bearish they make a little bear-b-que.
See sentiment post below.

Edited by Rogerdodger, 20 June 2007 - 10:59 PM.