08/17/2009 Pre-Market Briefing

Cobra's Market View Private Messaging System shows:

OK, looks like we’re going to gap down below the Friday’s low so my speculation for a green close is very unlikely now. General rule of thumb, if such a gap is not filled until 10:30 and after 10:30 it has a new intraday low, then statistically it will be a strong down trend day and eventually CLOSE < OPEN, i.e. don’t expect an intraday reversal. So be careful buying dips.

  • Me XMan
  • Anonymous
  • Cobra
  • Anonymous
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