I have a feeling we MAY gap higher tomorrow. IF, AND ONLY IF, a major player like MSFT doesn't warn. My reasoning is this. Everyone thinks MSFT will warn. Therefore, there are a ton of shorts in it. If they do, then great, we'll get the sell-off we're looking for, and that's that. However, if they don't, we will move higher from here. I think the institutions are wearing blind folds, and they too, really don't know what to expect. So they will not risk throwing institutional money in, when there may be a MSFT warning on the horizon. If there's not, the market's will pop very soon, IMO.
I'm treading very lite, but I can't turn away stocks that are trading near 52 week lows that are growing revs and their business model. Everything's a gamble now, so you must weigh the risk/reward. Happy trading.
EDIT: one more thing, every Friday of this year, we've gapped higher on the jobs report. Buy or sell at your own risk.
KM |
