Runaway Gap – A type of gap on a price chart that occurs during strong bull or bear movements characterized by an abrupt change in price and appearing over a range of prices. They are best decribed as gaps caused by an sudden increase/decrease in interest for a stock.
It is starting to look like a runaway gap scenario where the bears run with the ball for days/weeks to come. It will take time for charts to heal after today’s mess and the only thing the bulls have going for them are the lows @ 1101 and some decent support @1120. I’m not so sure those lows hold, but the day is young and the rumor mill is heating up, I’m sure.
I have yet to make any meaningful moves today, and I still have 1/2 position of $NFLX, my only long, #winning. I will likely get more active as the day unfolds and I’m sure there will be some great action come the final hour of trading.
As always watch for murderholes, join The PPT, and live to fight another day.
Nice dice roll on NFLX. With (almost) everything under the sun selling off, the netflix selling seems to have exhausted itself yesterday and is holding up today.
not so sure it holds up, if the selloff continues in the market. It is my only long, and I am close to selling the final half to lock in gains.
closed green. amazing.
$trannies are breaking the fuck down you think we’ll hold 1100 today?
too early to tell, but I think it happens, just maybe not today.
volume profile looks like there are a lot of dip buyers ready to buy 1100 but that presupposes they still like stocks at those levels. I feel like we may break those levels briefly and then the value buyers will come in strong and we see a strong snapback rally. If not, it could get really ugly, so the 1100 level is really the “do or die” in my view.
Hey rc I’m not sure of the economic principles involved, would UAN be something that suffers due to deflation/lack of qe3?
possible, yes. I would use a stop below the 50 day MA if I was in it,
Thanks. Will be careful.
NFLX might be good for a small bounce, but is it worth the risk? I wouldnt be jumping onto a sinking ship myself, but Im sure people believe this is “oversold”.
good risk reward, stop under 125
You Sir, have balls of steel.
I however, do not.