Discussion in 'Trading' started by dtrader98, Nov 19, 2007.
squeezing now ..but a bit too early .bet they sell it off ...
Looks liek a good day for an EOD squeeze
RIMM AAPL GOOG will surge
Looks like a buy program is running, but there is heavy real selling by institutions into the buy program. Totally unpredictable how the last hour will play out, but usually the programs try to have their way even if all of Wall Street is fading that program.
Looks like they saved that expected squeeze for this am. There are a lot of sentiment indicators that were pointed at a major local bottom. I think there could be a good run through thanksgiving here IMO. Plus I still see a gap that needs to be filled from yesterday, so keep that in mind when targeting yesterday's open as resistance.
Nice covering of your bases, you say "squeeze" but you fail to mention a short or long squeeze. So whatever happens you were right
Usually, if major markets are down ~2% for the day, EOD squeeze implies the opposite direction which would be up.
That being said, yes, I was hopelessly wrong yesterday; it didn't squeeze up (well, it started to, but didn't finish into end of day).
They saved that for the morning.
My reasoning was the same though, I think many of the sentiment indicators have shown a short term bottom.
How's this for today's outrageous call: i think yesterday's gap will be filled :eek:
(pretty large gap, btw).
And many shorts will be scratching their heads in denial.
Guessing or predicting what the market will do puts my mind in a place where I cannot be profitable. PA alone leads the way, and I trade along with what its doing. I'll leave the guessing to the analysts.
gap filling is PA. One of the best expectations there is. Whoops, thought you meant probability analysis.
Probability analysis shows very strong expectation for gaps to get filled. As for price action (on second thought, I figured you meant this acronym), it's also corroborating my thesis at the moment, but thanks for the vote of confidence.
As long as price is showing me, based on what I see, that its strong I will agree with you. But once I see signs that its no longer, I will switch mindsets very quickly. I'm not saying that we wont fill the gap, but once PA is no longer showing strength, its wise to not get stuck thinking that a gap fill has to happen.
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