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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (81081)	9/10/2003 6:04:54 PM
From: mishedlo	Read Replies (1) of 209892

Shack I do not know. I went to bed certain of a gap up and was shocked. But I did buy a spoos put near the open when we gapped down two days ago and it did not fill quickly in spite of a very very low trin/trinq. It became obvious that they were unloading big time to dip buyers. Well out of the money DEC put cause I did not want to risk much. I also wanted something I could hold overnight and was damned happy and surprised to see two consecutive gap downs. I was away for most of the afternoon but figured we would break 1015 and put in a bid to sell for a very nice two day profit. It filled. I am in quick hit mode on the short side and if we go higher it is fine with me. I am happy with my profit on that play but wish I had more. Actually I hope for and expect a gap up tomorrow and a morning run. I think it will fail. More than 3 days down is asking for too much and then we retrace and see how it is handled. For I all know we will not see 1030+ again in our lives, but that is not my call. I do doubt we can get much higher but I am unwilling to quantify "much" at this point. I think Bush was just too damn early in his re-election stimulus and it is going to run out of gas by no later than March of next year, and possibly as early as two days ago. M

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