I dunno, I just dont think they can rally the market until we get past Bush tonight.. His track record spells gap down tomorrow : )
I was looking for that elusive rally all last week and each time we got some it fell right back.. Right now Im adhering to Zeevs guidelines and thinking Wednesday for a turn around..
Have you ever used buy stops instead of limit or market orders? In a market like this, if your itching to go long but dont want to miss the move, just use a buy stop and if you see your ticker go green- chances are your order gets filled and you can sell it immediately for a nice profit. I used to play that way almost 80% of the time until the last 2 months with the volatility.. but with all this selling, its a pretty safe way to play I think.
I just put some in today on both long and short side.. The long side orders all went untouched and that worked to my advantage but my short fills all triggered, and now I have stops at break even on those.
Im amazed I dont see people use buy stops/short stops more often. In markets like this, its wonderful : )
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