So what..we've gapped up 5 days in a row?

[yoyomama]

Is that right...what's the most consecutive gap up days you seasoned pros remember?

[skiracer]

Is that right...what's the most consecutive gap up days you seasoned pros remember?

yo,
i hadnt noticed but your post made me look at the SPX daily chart and it looks like it was 3 gap up days at the open not 5. but gapping up at the open isnt as important as continuing the up days on more volume than the previous day. those days count as accumulation days and are lots more meaningful in developing and continuing a trend that you can count on for trading either to the long or short side.

[yoyomama]

yo,
i hadnt noticed but your post made me look at the SPX daily chart and it looks like it was 3 gap up days at the open not 5. but gapping up at the open isnt as important as continuing the up days on more volume than the previous day. those days count as accumulation days and are lots more meaningful in developing and continuing a trend that you can count on for trading either to the long or short side.

Really...SPY has opened up higher than it's closed five days in a row...pretty sure. Either way, how many continuing consecutive up days on more volume than the previous day do you remember. I'm just curious.

[skiracer]

Really...SPY has opened up higher than it's closed five days in a row...pretty sure. Either way, how many continuing consecutive up days on more volume than the previous day do you remember. I'm just curious.

you're probably right yo. maybe we're thinking of gaps in different definitions. opening up a point or two higher than yesterdays previous close is not a gap in my mind yo but i guess a few points could be considered that. i'm much more concerned with the total volume and closing higher that the previous day on higher volume.
i'm sure there are plenty of days where it opened on a decent gap up but closed down on less volume.
went back in and took a look at the SPX 30 min. chart for the last 9 days. here is what i saw.

[yoyomama]

Hey Ski...you're great man. Thanks for the effort....trying to take it all in!

FAZ has been good to me, FAZ has been bad to me at the open & just trying to figure out when it'll work at the open again. Thanks.

[skiracer]

Hey Ski...you're great man. Thanks for the effort....trying to take it all in!

FAZ has been good to me, FAZ has been bad to me at the open & just trying to figure out when it'll work at the open again. Thanks.

years ago i used to jump in alot of trades in the premarket because i would see some news item regarding a stock and i would almost always get my head handed to me after the open and things settled down. by chance i get to know a guy that ran a site called Morpheus Trading Group. His name was Deron Wagner and a sharp and astute well disiplined trader as you will find. alot of his concepts rubbed off on me. one of them was that i don't make any trades in the premarket or before 10 a.m. anymore because if you watch the gaps up at the open a high percentage of them almost always drop back to the previous days close around 10 a.m. or so or lose the gap up entirely. just something to watch for and consider yo.

[yoyomama]

I've tried to discipline myself to stay out for the first hour...it's tough. Maybe starting today! Thanks.

[dmk112]

Hey Ski...you're great man. Thanks for the effort....trying to take it all in!

FAZ has been good to me, FAZ has been bad to me at the open & just trying to figure out when it'll work at the open again. Thanks.

Yo, if you're just staring out (I think that you are). I would stay away from the ETF's. Trade stocks, they are alot easier to master.

[yoyomama]

Yo, if you're just staring out (I think that you are). I would stay away from the ETF's.

You mean the 2x/3x ETFS I'm thinking. I've done well scalping FAZ/FAS during the day & I've also gotten burned just the same.

[steelman]

SDS has been a good one. Proshares Ultra short. It double shorts the S&P. I have done both call and put options with it depending on market trend.
Steel