Thursday, April 30, 2009

Chrysler goes down... takes the market with it...

TOday was one of those days, you know where the futures are up wildly into the open gapping the market. MOst days like today are ripe for a trade called "fade the Gap".. ever gap is closed, especially when a major event happens like today causing a sell off of 150+ points pushing all the way to red close. Lets take a look at a few charts to see if we can formulate the trading direction for next week. I must admit i was caught off guard by the rally we had mid week, maybe i am just a contrarian.

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