Playing the Saddam Gap

There will be a huge gap up on Monday morning. The question is how to play it. At some point it will get faded, but when?

I don't have the guts to buy into the mother of all gaps, but many will.

Lets discuss specific ways to play this.

Jump in early in the futures premarket and hols on for dear life?
Play the first retrace on a 5 min?
Fade the 10:00 am boys?

MTG

 

I think all levels, pivots and normal plays are thrown out the window on this one. Its time to go back to the drawing board.
This will be something I have never traded before, like when the 911 event happen.

This capture is HUGE, its the end of the war, its a huge psyc. victory. I have never traded the end of a war, this is the true end to the IRAQ war and the global financial markets are going to react.

This week will be one hell of an interesting week for sure.

 

First wave of shorts will cover their futures then. Some will decide to try a way out during regular trading on Monday and the rest will choose to ride it out. Averaging might be a strategy for some that are well financed - sell some more when you guess a top is in. Some might try a hedge as Asian and European markets open.

I would think it would be good for +1% on YM and ES openings which is just a guess.

What the heck else can you do?

Geo:eek:

I have no positions but personally would love to see a worldwide dollar short death in the currency markets. I don't remember what happened with the $ on all those prior Saddam capture rumors though.

 

You could have bought in friday like I did.

 

Just buy the ES in the overnight session today (Sunday) when the Globex opens for trading this evening...be careful though...nothing is ever a SURE thing in the market, and easy money is rare at best!

Chris

 

10,000 just became support.

 

Congratulations! Give this man a pat on the back!

 

and then buy the first pullback, if one ever occurs!

 

"This capture is HUGE, its the end of the war, its a huge psyc. victory. I have never traded the end of a war, this is the true end to the IRAQ war and the global financial markets are going to react."

Simply go back to January 16th of 1990 and check out that week's trading for a possible similar pattern.

Glad I haven't tried picking the TOP like some of the egotistical morons on some stupide thread about S&P 1050!

 

Yes that prediction by who (R****) looks way off now...Hey maybe we can hit 1100 now by the end of 2003 as I stated in his thread! :eek:

Let Freedom Ring!

Chris