My Gap Fade Faded Away

November 29th, 2007

The QQQQ gapped up big at the open yesterday and from reviewing my trading results I know to be highly skeptical of any setups that come along on days like this.  I reverted to my old ways and took a small bet that the large gap in the Qs would fade.  I see Mike (interview) had similar thoughts.

Much to my surprise I went short just a penny off the low of the day and was stopped out in short order.  That’s a pretty impressive run by the bulls.  Perhaps my gap fade singlehandedly caused the market rally yesterday.  😉

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