Friday, October 30, 2009

Probably a gap up

Based on the weak close, I expect a gap up on Monday as the dipsters come in to buy the open.  Also, it is the 1st trading day of the month, which is a much more reliable bullish seasonality indicator than the last day of the month. A gap up should set up a bull trap and we should sell off for first half of Monday, we may get a reversal midday, depending on the price action.  Those are the scenarios I see as most likely to happen. 

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