Forgot to post what that means Possible scenario, 1. Pek's 1000 level by year end ... island on daily is extremely powerful 2. We fill gap today thus we have a healthy pull back and bullish case continue 3. gap hold today and crush all shorts going up to 922-928, with a bit of coincidence, in a day or two of tight range, gap down big time to start a new down leg Thus I prefer not going short until after I see some serious down side action first.
Lunchtime viewing http://video.google.com/videoplay?d...i=2Bg9SYyRKJycrAKOvpzsCg&q=nassim+taleb&emb=1
I'm gonna go with 1 (minus Pek's 1000 mark). Since we have a gap up today, we would have a nice "island reversal" tomorrow were we to gap down again. Now that would really rile the PPT, don't you think?
hhhhttp://custom.marketwatch.com/custom/tdameritrade-com/html-story.asp?guid={3e14e7a2-c5d6-493e-9447-ea9e8a5d993e}
Then we are talking about #3 that we have the gap hold today. #1 is reserved for the bulls as v3 mentioned a 5 day island down there should the gap hold today.