Thursday, February 21, 2008

Down da drainnnnnn!

Well, once again, like a broken profitable record I can safely say that fading the open in this market is the best strategy ever. We opened higher and then quickly sold off and closed near the lows of the day! The RUT was over 24 points lower from High of the day! That's a HUGE reversal and one we caught nicely!

I'm beat, but I expect us to get the same fade off the open today. I thnk any really big move up will have to be on a gap down or intraday reversal. It seems unlikely that they'd buy the open and keep piling in.

In the meantime, keep TrADING and keep RULING111

Rock on.

Michael "Waxie" Parness

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