Remote login to check on position. Gap filled right before noon ET. R1 is in play now as both S1 and Pivot are defended.
A short note on gaps before I head out again - it's a good day out there in Toronto! In old days, when 24 hours trading did not exist, gaps on stock mkts are created from news shocks all the time. Thus once the dust settled, the mkt always move against the gap since market makers need to unload their positions taken during the panic. Now, gaps has to be analyzed with the underlying stocks in mind. What gapped, how much, and as a whole, does the gap showed in the index reflects a panic gap where the underlying symbols are not doing the same, or, a real power gap that most symbols are doing the same. This morning we have a panic gap where only the financials are gapping the same way as the index. Thus, strong bias for a gap fill. Time changed, so is the mkt. Gaps are more complex to analyze then ever. By thinking about it a bit more, you get an edge in using it.
looks like you guys killed it today. Great trading. to bad I had to miss it. had to take my newborn daughter to the doctors. Oh, well theres always tomorrow. "Take back Friday"
I know it's not ES, but it fullfills all posting requirements. If not acceptable, just say so... Last trade of my day. L 2 YM @11247 Stop @11229 Target @11305 No matter what, trade will be exited by stop, target, or manual exit before 4:00pm est EDIT: Stop adjusted to 11237 EDIT: Stop adjusted to b/e net (11249) EDIT: Stop adjusted to 11263 EDIT: Target 11305 filled. +58x2