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  • Wednesday, August 10, 2005

    Gap Up

    The market has gapped up over a minor gap support/resistance line at about 1241.00 on the SPU5(just a trend line I've drawn from some previous gaps).Next resistance lies at 1246.50 and 1248.90 is the 52 week intraday high.I never really like these gaps higher that develop into a slow drift, makes it hard to scalp,but we'll see what the remainder of the day brings.

    Trades today:
    NEW Short 44.53 Covered 44.40 and 44.38

    NEW Long 44.49 Sold 44.61 and 44.70

    NEW Short 44.73 Covered 44.58 and 44.50

    CI Long 112.02 Sold 112.20 (should have held that longer!)

    CI Long 112.28 Sold 112.58

    NEW Short 44.28 Covered 43.98,43.95,43.89

    NEW Short 43.91 Covered 43.76

    NEW Long 43.61 Sold 43.77

    NEW Short 43.06 Covered 42.91,42.88,42.67

    NEW Short 42.62 Covered 42.40

    NEW Short 42.39 Covered 42.10

    I've got a "how to" on using the nyse open book coming up shortly.It will be good for anyone just starting out or not familiar with the nyse book. A reader requested some info on it the other day.


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