The market gapped up to the high due to the job report. Another gap is created from this morning. Could this be another false breakout? The spot gold is dropping a lots today.
BAS, I here ya. this is out of control. I would not be the least bit surprised if we close on the highs today. looks like a lot of shorts covered on the gap fill today. I am taking a very small postition long SSO just for fun.
BAS, as long as SPY closes below 111.00 and QQQQ closes below 44.00, yes, the market has a greater chance to go lower. Gold stocks are taking a hit. dollar currency and VIX are bouncing back up. We just witnessed the past 3 days false breakout.
Finally my long position, CLF, is breaking down two days in a row.
ReplyDeleteSorry about the last post, CLF is a short position, not long.
ReplyDeletemy brain is fried. haha.
ReplyDelete3 days in a row SPY hits new highs and pullback strong.
cakey
BAS, I here ya. this is out of control. I would not be the least bit surprised if we close on the highs today. looks like a lot of shorts covered on the gap fill today. I am taking a very small postition long SSO just for fun.
ReplyDeleteThe last Friday morning gap was filled.
ReplyDeleteThe volume had pick up today. The spot gold prices will pull back some from here.
ReplyDeleteI just shorted AEM at 63.8 with tight stop at intraday high of 64.6. sold my SSO
ReplyDeleteToday the market make higher high and lower low.
ReplyDeleteThe U.S. dollar currency went back up above 75 and VIX remains above 20 support level.
ReplyDeletegcl106: "Today the market make higher high and lower low."
ReplyDeleteSo we are still kind of stuck in the middle of things, but the slightly greater chance is to go lower?
irfac
BAS, as long as SPY closes below 111.00 and QQQQ closes below 44.00, yes, the market has a greater chance to go lower. Gold stocks are taking a hit.
ReplyDeletedollar currency and VIX are bouncing back up. We just witnessed the past 3 days false breakout.
Can BAC reach 1 billion shares traded today?
ReplyDeletebe careful here if short. the Dow transports finally broke out and closed above resistance. Wow, what a crazy day (again). Also, SPY closed above 111.
ReplyDelete