Donald: It's hard to say from this point if she will follow trough
with more upside or just gap back down. It can at times take several
days and even weeks to fill a gap but most of them fill fairly
fast. ( market or index gaps are more reliable than stock gaps ).
---------------------------
I just discovered a new twist to the twisting of data, the NYSE
does use an eraser on some data after the fact to take out what
could be seen as discrepancies. When we down load data some gaps
that were there early on are no longer showing, this really
surprised me. Historical data on the NYSE for the most part
gets cleaned up of anything that may indicate market
manipulation by the specialist. !!
I was not sensitive to this prior to having a trade report fully
executed last week then got retracted after the price stayed
on the ticker over 3 hours, it was erased ! so I started
looking at some other anomalies, it's unbelievable if you don't
see them with your own eyes, ( like a magician first you see it
then you don't , & at other times it comes out of thin air )
Now I understand why they have all the disclaimers as to the
Data furnished !! Most of it was going right by me as I was
so focused on the current price I failed to notice the often
subtle retro active changes to historical data, it's only
in retrospect that the impact of this can be understood,
and they manage to cover arse really well.
But then what's a 1/4 pt here or there ?
<OT>
Well I use to do the
tickets on millions of barrels of oil and even less than .0002%
can add up to BIG dollars over time. There was an anomaly
in the way oil could be calculated from barrels to
metric tons both considered legal , accepted and official.
The anomaly was minuscule but as cargo super I loaded with one
and discharged with the other, no one ever even noticed except
one office arm chair wanta be "chief mate" . He ridiculed me
in an attempt show his stuff , saying "no one can even measure
oil tath close it just isn't possible" and I agree
that's true however over time the unavoidable errors in gauging will average out and that minuscule anomaly paid my yearly salary three times over.
I took it to the owner and Mr. armchair got off my back.<g>
But he never liked me again, but what the crap taht jerk never
liked anybody he couldn't intimate.
------------------
All taht to say we had a gap up Friday morn..but it no longer
shows, unfortunately I did not save a print of both the previous
close and the early open so I'm not sure which one they skewed
to hide it. Maybe both ?
The Diamonds still show it.
quote.yahoo.com
There are two up gaps that look like they need to be filled, however
one might say all this was doing was filling the down gap made
on the 27th of May.
----------------------
At any rate if we take the bigger picture
iqc.com
any one can see this run is reached it's limit without a
correction ; unless they want to set up a huge crash that
would kill the market.
Interest rates are pegging just about what they were on the
last July highs and that's a good support area.
Earnings are not a drop better, P/E wise they are worse than
then.
If people think the 5% correction has set us up for anther
all time high they better think again, to me that was just a
warning, rallies now are bull traps.
Jim
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