We had a perfect gap fill today on, oh, everything. This suggests to me that we can now resume our downtrend with the likely help of some terrible economic numbers this week.
SPY - look at today's candle and where we closed. This represents a rejection of higher prices which SHOULD resolve to the downside.
GS - at about 107.50, just as the gap was filling, I bought the GS April 100 Puts with a stop at 115 and a price target of 100...and eventually 82.
GS - easier to see the gap fill on the 5 min chart.
UPDATE: I hope the G20 can talk some sense into Obama Von Spendthrift.
UPDATE 2: And that Conficker.C takes over everyone's PC, opens their brokerage account and shorts the SHIT out of Goldman.
Tuesday, March 31, 2009
Gap Fill
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