Thursday, April 26, 2007

Thursday - Not Expecting Much

Weak opening - and if you think a gap up on the Q's means anything wait awhile - Thursday is the best day for gap closing both ways.

I was correct regarding DNDN and the probability of a jump up which I felt was nil - it jumped down instead and hit the stop - oh well - good riddance - I hate biocrappa anyway.

Looks like we're going to get that down day that I've been looking for - SPY is already red and Q's have lost half of the open. DIA is still plugging along hard to kill that momentum.

I'm going to add KMX to the trading portfolio once the market settles. I picked this one off the cross over filter that I wrote about earlier.

Sold most of my GGB holdings - I'm not going to lose a significant hunk of profits to a stock that just stopped going up. If it pulls back far enough today I'll layer back in tomorrow.

And interestingly enough - AAPL gapped up and immediately began falling.

DIA has already lost back about 60% of its gap up.

Going to be a good day to go play golf. See you tonight with the Wrap.

UPDATE: This is interesting

The power of R1.

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