Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

who has their money on the gap closing today???

Reply
scandal
Super Contributor
so who thinks the gap from this morning will close today?
0 Kudos
39 REPLIES 39
CrownA
Super Contributor
0 Kudos
john_1
Super Contributor
Gaps tend to fail on market moving events..clearly this was a market moving event..That said I am sure the market will give it a try and since we are stuggling to get above 24000 and the 61.8% retrace there is still a great chance the market at least tries to close...Don't sell untill you get a signal is really my point.
0 Kudos
Brazen
Super Contributor
Interesting. So are you going to short it? Or let this one go?
0 Kudos
john_1
Super Contributor
If I get the signal I will short. but I will have tighter stops than on a normal gap. That way my risk is tiny and reward is 800 points.
0 Kudos
Brazen
Super Contributor
So you would go short with a stop at just above 24?
0 Kudos
scandal
Super Contributor
well i think that going short will be the easier trade esp if the dow crosses 11400 on the down side....
0 Kudos
_nova
Super Contributor
I agree with John but now also wondering. An 800 pip move is big but even on a chart as noisy as the 1 min the upward momentum is already fizzling and going sideways right on the 24000 level. At this point it can go either way. DAX and FTSE are playing out exactly the same pattern as the JSE
0 Kudos
john_1
Super Contributor
For this Gap to close all those squeeling longs must start selling into this rally.The question is are the shorts fearful are are the bulls more scared.
0 Kudos
john_1
Super Contributor
0 Kudos
john_1
Super Contributor
went long for a 100 points while waiting.
0 Kudos
timba
Frequent Contributor
you are a brave man, john all i could see on my chart was a squeeze developing, and no signal what so ever to suggest a buy...i guess you are right again...well done!
0 Kudos
_nova
Super Contributor
whooowheee this market is setting up for the mother of all breaks. Just lookit it. Tracking sideways like it's on a Sunday stroll. Methinks there are many, many trigger fingers out there just waiting to see which way the wind's gonna blow. FWIW, I'm keeping a beady eye on the USD as I'm thinking this is key today. The fact is that the DOW is still in bear territory, unemployment in the US is at 6.1% and the FNM/FRE bailout is just so much hot aire, nothing more than a pacifier in the short term. It's going to take a long time for these leviathans to shake their hangovers and in the meantime many more consumers and companies are going to go under
0 Kudos
schizo
Frequent Contributor
jse down, very interesting to see where it re opens
0 Kudos
schizo
Frequent Contributor
if it opens lower people who went long are in trouble and people who closed shorts will be regreting
0 Kudos
john_1
Super Contributor
make that 300, thanks timba...For me it a question of if in doubt go with the current market dirrection.. trends persit
0 Kudos
saash
Super Contributor
Well done John, but what happened to your rule "Don't trade against the gap"?
0 Kudos
john_1
Super Contributor
2 accounts, one discretionary 1 system only that was a discretionary trade. But in short.. Market moving events seperate normal gap rules from everthing else...as I said earlier in the post it all depended on who was more affriad this morning
0 Kudos
john_1
Super Contributor
System makes way more money by the way
0 Kudos
john_1
Super Contributor
I am currently short on a system trade, very unhappy about it, but my system always outperforms me so We are sticking to the system.. lets see how it pans out, Even if it fails I have made my target for today and then some so nothing to lose.
0 Kudos