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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives
SPY 687.01-0.1%Dec 30 4:00 PM EST
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To: Blasher who wrote (49633)5/3/2013 3:49:40 PM
From: Kirk ©  Read Replies (2) of 220902
 
I don't believe I've EVER bought anything making an all time high, gaps or no gaps.... I'm an investor, not a trader so I buy when on sale and take profits when surging.

so you see my point . . it was better to have not Opened any Up positions today . . since the Open, SPY has been weak .. now only 30-cents above the Low of the Open.
but the gap is still open.... and a buyer at the open, as of now, would be ahead.


I agree it is dangerous to buy after a gap open... my post was only a warning that they don't always fill. I know one national figure who writes a newsletter and has a radio show who missed the 2009 bottom in the 600s after calling for buys all the way from 1400s to 800s... then after it started to go up, he said to wait for a test of the low that never came.

I see TWO island reversals charts on the above graph..... it is VERY BULLISH if they don't fill...
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