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I assume you're referring to the bullish island reversal (gap down > trading >
gap up) on the intraday chart. It is not uncommon for the second gap in island
reversals to go unfilled for an extended period as island reversals frequently
presage extended moves, however such is not the case here. All of my work
suggests that the market has a moderate downside bias.
Earl
-----Original Message-----
From: Donald Thompson <detomps@xxxxxxxxxxxxx>
To: realtraders@xxxxxxxxxxxxxx <realtraders@xxxxxxxxxxxxxx>; cnedgo@xxxxxxxxx
<cnedgo@xxxxxxxxx>
Date: Wednesday, May 06, 1998 9:12 PM
Subject: Re: Gap in the fork?
>I was thinking about that giant gap from 1909-98 to 1105 or so, the one
>going both ways. What is the seasoned veteran's take on this kind of
>gap?
>I was thinking that it still has to be filled..
>
>Don Thompson
>
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