My guess is that the trade of the morning is going to be to Fade that gap...
but MY FEEL...
is that the gap fade will fail....
and yet..... I'M READY TO BE WRONG!!
and that is the question... HOW DO I DEAL WITH BEING WRONG!!!
Because I already have a position in the market, and I "Covered"...
Roughly, I'm 50% Long 50% short....(this means I have half a Short Position), What I am Long is Cash...
So.... Based on my thesis, I'll look to "Short" Again
SO... Either I will Re short at the gap fade....
or I will Look for the "Failure of the Gap Fade"......
and My first trade will be That...
If I was flat.... MAYBE i'd try and Gap Fade...
But my "Game" is to Game the people "Gap Fading"
Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
J. P. Morgan
Monday, June 15, 2009
Morning trade...
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