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Strategies & Market Trends : Classic TA Workplace
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To: jjstingray who wrote (43241)6/26/2002 10:01:12 AM
From: AllansAlias   of 209892
 
Interesting that for the days referenced in my little study, not one of them had the gap-down open as the low. Mind you, a few of them only hit a very marginal low below the gap down, but all of them had some new low.

If I take out the smallest value and the largest value, the average drop below the gap down is -1.6%. Hmmm... some exuberant short-covering here I would say. The bulls ought to be very thankful for shorts this morning as I expect they are eager to cover.
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