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IBDvalueinvestin (98.46)

Gap down Short trap setup Prior to Black Friday Rally



November 23, 2010 – Comments (6) | RELATED TICKERS: WMT , M , TGT

What you see this morning is a setup to get newbies to short this morning gap down open. What will follow next is the experienced shorts will cover all day along ahead of Wed. & Black Friday. I been in the market for nearly 2 decades now and have seen such a setup numerous times and the vast majority of times the market has rallied up on the Wed. before Thanksgiving. So my advice to newbie shorts is to not get sucked in emotion today and overload on the shortside because the past history will be strongly against you today.

6 Comments – Post Your Own

#1) On November 23, 2010 at 10:08 AM, pastordisaster (< 20) wrote:

Agreed. No way Ben the Bernank allows this market to drop just before the biggest shopping day of the season.

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#2) On November 23, 2010 at 10:18 AM, CCLEGG (< 20) wrote:

Thanks from a newbie

I don't do shorts, but enjoyed the info.

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#3) On November 23, 2010 at 10:30 AM, IBDvalueinvestin (98.46) wrote:

Nothing new here, just the same old North Korean game of little dog barks but when the big dog does not follow they back away.

Also to note is that the North Korea news today is just hype by the shorts who got in Thursday, Friday, & Monday. They are just hyping up North Korea vs. South Korea news today, its not like North Korea has never done this before. North Korea always tests the water of aggression to see if it has Chinese backing. As soon as they get the message that China is not backing them, they have always retreated.


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#4) On November 23, 2010 at 6:48 PM, dcwalk75 (48.12) wrote:

Humm true that; history does repeat itself even when folks aren't listening/or telling the full story.Thanks for the tip regarding the short.

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#5) On November 29, 2010 at 3:40 PM, Mary953 (85.11) wrote:

Glad this came back around on the Highlights reel.  Thanks.  At 2 years, I am still very much the newbie in all things financial.  It is good to know you are watching out for us.

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