claym711 said:claym711 said:
Will depend on first few mins of the open, but setting up for a nice intraday bounce. Keep in mind though that week 5 of months are the best for shorts, worst for longs.
Update on this.
Gap moved deep enough where short performance is far superior.
If there's a pop at open, roughly 27% chance a long ends the day in profit, though range will be wide and can still make money long, I won't be holding if long. Hard drop at open, short performance is off the charts good.
Only 48 gaps of relatively similar size in the past 10 years so not much history on this kind of gap action. Most similar setups are coming out of 2009 and 2011, something to note.
But as said a few weeks ago, expected further down after that drop near Jan end, and still expect it.
Playing out as expected.
