lots of guys went long Friday afternoon

Discussion in 'Trading' started by NY_HOOD, Jan 22, 2008.

  1. the fact that we went down so quickly last week and rallied a bit into the close friday led traders to establish long positions at friday's close. a prime example why that is extremely dangerous in a bad market. although it has proven to be a good stategy over the years,its eventually not going to work and its usually on a day like today.