Looking at the SPY this a.m., all those retail limit orders that gapped her up got faded by the locals, it's too early to make anything of that, but yesterday I suggested we were getting into the distribution cycle and the accumulation cycle looked like it was big enough to keep prices up for another day maybe two or so as it would most likely round over, unless we get some undiscounted fundamental news.
This is why I never put orders in with brokers, why show them what your plans are? They'll just take the other side.
Gap up is faded by the locals, any NYSE stock is very at risk for this behavior.
No comments:
Post a Comment