Wednesday Gap Wrap:
Having posted so many wildly positive days, I thought I'd post one that didn't work out. This isn't to say that the Gap Stratagy didn't work (as you can see if you check out the charts for today) but rather that it can be traded wrong and you don't always get the fills you need. Here's what I traded-
LU 70 1/2, 72 1/8
AOL 113, 115 (113 a homemade trigger, ignored the extreme open)
YHOO 128 3/4, 131 3/8
CCI 95 1/2, 97 3/8
GE 80 7/8, 81 3/4
LU hit its sell fairly early...and I went long! SPYs were moving up, I slept late, and didn't know squat about the NT story. Went positive for a blink, then when I tried to get out even I couldn't get filled and lost 3/8. A short could have been ridden down for more than 2.
AOL and YHOO were both shorted at their sell triggers and started making money. But they reversed back to even for two seconds and I sold out even. AOL eventually good for at least one, and YHOO would have sent my kids to college.
CCI I tried to short at the sell trigger but didn't get filled. Would have been good for 2.
G was the only good trade. Shorted, filled, got 1 point.
So that's 5/8 out of a possible, oh I don't know...a million?
Just wanted the thread to see this because I've got some PMs that lead me to believe that some of you think that this is a sure thing.
Maybe it is...but be prepared for some days where the mardet moves 200 points and you don't cover comissions!
Jay |
