I need tranlate what is pivot in my mother language. Pivot = male of beer You can see that it is liquid-ity issue.
Dont sleep on a 50% retrace from 2003 lows... a bounce was a guarantee. Whether it becomes "the bottom" remains to be seen but it certainly has potential. gov't bailout just happened to coincide nicely... they plan these things, dont you know? Did you see the "FED wants GS and JPM to loan AIG money" headline that hit during the same time we were testing the AM lows yesterday? They were trying to create a double bottom. Anticipate the fundamentals to coincide with the technicals.
I know the two consecutive gap rule is an old one for traders, but I give you credit for reminding me about it many months ago. Considering that I am not able to trade intraday until the end of the month, that rule has been my most reliable swing trading rule in recent weeks. If I am ever in your neck of the woods, I'll buy you a beer.