Damn, the YM gapped down, again! What a bad month for the MRC... Again, in short, so far it looks like you are much better off buying at 7 am. I explained it in the previous post. I knew you would say "I am holding it into the day", and I already explained it, that is not overnight action if you are counting on the day's rally. Just buy in the morning when you get up... Today we actually have a chance to have the runaway gap, we shall see. That the MR worked last year most of the time? I explained it too, most worldmarkets had a good year....
They're talking about the non-existant, "Midnight Rally Crew". You're not missing anything over it, just ignore it. Happy trading
If you bought at midnight you are long at 11068 and are suffering a huge 12 point drawdown. Now MRC will be a failure if YM does not go above 11068 today if a failure is what you consider going 3 for 4 with the last MRC trades. And I agree MRC probably does not work good in a bear market, but one unique quality is when DOW closes LOD, it almost always is a sure loss if you hold a short into the next day from that close.
who knows... maybe this year "its different this time" and doesn't work anymore.. It sure worked great all of last year
sold half my long from 11019 at 11057 avg.. stop at 11019 on the rest. Target is still 11200 ish . Go T day !
WTF ??????????? THE KING OF MRC NOW IS CHANGING HIS MIND ?????? NO RISK NO FEAR FREE $$$$$$$$$$$$$$$$$$$$
DAMN! I am good. For the record, the downgap hasn't been filled so far and we are down 70-80 points. OK, I am not going to rub it in, but how is a member of the MRC supposed to play a runaway gap??? I assume at one pont you have to take the losses.... Oh, I forgot, you guys can hold it forever, until the market turns around...