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SB73 wrote:I told you I would be in for the late day ramp and bingo we got it...T-5 for closeout.Me XMan wrote:They're cleaning up stop-loss and go higher? Them bastards...didn't get mine.Cobra wrote:I don't like this. this is not a typical strong up day should be.
Cobra wrote:well, guess that's it for today. NFP tomorrow which wasn't so bull friendly recently. thank you guys, I'll see you tomorrow.
I don't see it the same way...almost everything I see is teetering on direction which means that the gap will happen when I can't trade it, but I can deal with it. Could be a big gap either way.Me XMan wrote:Closing near high will have gap up tomorrow guarantee.SB73 wrote:I told you I would be in for the late day ramp and bingo we got it...T-5 for closeout.Me XMan wrote:They're cleaning up stop-loss and go higher? Them bastards...didn't get mine.Cobra wrote:I don't like this. this is not a typical strong up day should be.
Agree that a gap up on the open would be the best way to clear the 13,34,50 SMAs for SPY and is the easiest way to spring a bear trap to add some unwilling buyers. They will only need to manufacture a "decent" jobs report.Petsamo wrote:They're backing off from the highs because they want this thing to gap up. So the rally should continue for a typically non-bearish Friday. I'm just guessing ...
Very beat up stocks rallied big today, WLT, CLF, AMD, X. If that wasn't a short squeeze, I dunno how you can identify one.Out of Bounds wrote:This does not look like a short squeeze to me. Short covering and taking profit maybe but certainly not a squeeze. A squeeze would mean that (at least some) short positions would be getting margin calls and that is just not happening at this time.
Me XMan wrote:You mean butterfly will fly up and away?
ClarkW wrote:Me XMan wrote:You mean butterfly will fly up and away?
Nah, suppose to be fly down http://harmonictrader.com/
Yes, my bad. I was lazy, eye-balled it without running the figures and he doesn't say, just shows pics. It's a GartleyMe XMan wrote:I looked it up and can't see the butterfly in 99er chart.
His butterfly doesn't fit the description.
ClarkW wrote:Me XMan wrote:You mean butterfly will fly up and away?
Nah, suppose to be fly down http://harmonictrader.com/
That looks like profit taking. Squeezes will move MUCH more violently. Like thi s with huge increase in volume and price, combination of buyers makes stock get called from shorts and they scramble to cover at higher prices and then the margin calls start coming in and forced covering. It is much more violent than simply seeing a majority of shorts cover at a profit. X was only up 5%, that is not a squeeze. WLT does look like a squeeze - you may see continued buying as margin calls continue to ripple in that one. Good eye to find that one.Petsamo wrote:Very beat up stocks rallied big today, WLT, CLF, AMD, X. If that wasn't a short squeeze, I dunno how you can identify one.Out of Bounds wrote:This does not look like a short squeeze to me. Short covering and taking profit maybe but certainly not a squeeze. A squeeze would mean that (at least some) short positions would be getting margin calls and that is just not happening at this time.