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Strategies & Market Trends : Galapagos Islands

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To: shoreco who wrote (38639)5/2/2003 8:19:39 PM
From: Jorj X Mckie  Read Replies (1) of 57110
 
I'm actually looking to open a futures account in the new future. Entry and exit on options is not fun for a trader.

I believe that Monday opens red but closes green. Not a bunch, just just looking for the January high.

Part of the reason that I am looking at that scenario is that the TICK closed pretty high today

stockcharts.com[r,a]dbclynay[d20021102,20030502][p]&pref=G

if you flip back and forth between the tick and the spx, you can see that days that close above 1000 have a pretty good chance of continuing the rally.

Another thing that I look at with the TICK is gap fills, believe it or not. If the TICK closes at 750, I absolutely expect that gap to fill. Since we closed over 1000 and will open at zero, it means that we are going to see some buying pressure some time in the first hour of trading....
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