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I would cover all short positions after the gap filled tomorrow and
take the long side.
Haytham
--- In realtraders@xxxx, "Haytham Albizem" <H.Albizem@xxxx> wrote:
> Ben,
>
> We will have secondary reaction down on Monday or Tuesday, If
NASDAQ open on open gap up you know it is the end sell immediately,
the market maker and the specialist will start selling short, you do
not want be left holding an empty bag. It is the end of measured move
obviously. Without going into Gann, following the western
methodologies , you have area gap with 90% chance of being closed
soon, It has to close before the trend consolidate or even go
higher. Monday if I want to play the minor swing down, I will sell my
long position on few ticks below the low of today(Friday) and stay on
the side or go immediately on the short side taking the swing down
until the gap around 1950.
>
> For myself, I will follow my rules and avoid the temptation of this
minor swing down. Think big: if you are money manager, you have to
buy this period of time or you will miss completely the boat.
Some "elephants" may think this could resemble 19.. when the market
increase until September then start to go down, this mass psychology
pattern is possible but will see how dynamics cycles will affect it.
>
> Haytham
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