MrB, re: TA stuff - I couldn't really follow that post either!
By definition, a "bear trap" is "an accumulation of shares being sold short by bears trying to drive down the price of a stock. The bear trap occurs when the bears find they must repurchase the shares from an individual or a group at an artificial price determined by the seller." [Reference, "Wall Street Words", by David L Scott, page 28-9.]
With that in mind, I'm not quite sure how to interpret the post you referenced. No definition was given in my book for a "bull trap", yet the poster mentioned that term.
If you are really interested, perhaps we could invite the poster to read your post and mine, and clarify the thing for us.
>Does any of this apply to TSRIs big movements last week?
Not understanding just what the poster was trying to say, I can't say. However, my point with gaps being closed relatively soon can be observed on ASND's daily chart if you have access to one. There was a gap down on 31 March. It was essentially closed 7 trading days later. Again on 10 June, there was a gap down and it was closed 16 trading days later. The latest gap was up on 2 July and it was closed 3 trading days later.
To answer your question, gaps [IMHO] tend to get closed relatively soon [as evidenced by the ASND daily chart as an example]. So in that regard, the up gap the other day with TSRI could also reasonably be expected to be closed in the near future. If so, I think that might be a good buying opportunity.
>I respect and commend you for getting into TA. I shall myself when I have more time to devote to it. Some people live by it -- others refuse it. I'd like to just try it as a helpful tool.
Yes, it's a helpful tool. That's all. I see TA as an additional set of perspectives to overlay the fundamentals. But an important set of perspectives, IMHO. I know just enough about TA to say with certainty - I don't know anything about it! Seriously looking into it though.
As a wise economist, I'm sure you could easily asertain the value of TA if you really put the numbers to it. <g>
Ice
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