Once again fading da gaps proved to be a HUGELY profitable trade on Wednesday!
The market gapped down and then reversed and mounted a very nice rally which we caught. SWEEEEETTTT!
Today we look set to open up. It'll be an interesting day because I would expect us to fade the gap a bit, but then we get actually get a nice two day rally. We shall see soon enough. I'm hoping we get the S & P's to remount 1400s because I think that'll set up a really nice short in the not to distant future that will have us retesting the yearly lows, and probably busting through them to the downside. In the meantime we'll just keep tracking the volatility and relying on the market to give us our daily Ka-chingos!
Rock on! Watch the solar sector today for some trades. Use 10 am rules on that sector in particular as I think if we do get some further upside here they may play catch up. FSLR, SPWR, etc.
Michael "Waxie" Parness