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Message: Price action

Oct 07, 2009 01:09PM

Oct 07, 2009 01:57PM

Oct 07, 2009 03:09PM

Oct 07, 2009 03:19PM

Price action

in response to by
posted on Oct 08, 2009 10:16AM

Yesterday I wrote:

"At some point, there will be less available at each price point and this will start gapping up. Not necessarily gaps that need to be filled, but moves of .002, .005, or eventually .01 once the price is high enough."

Already today we've had gaps up of .002, .004, and .005. It's not often I get a call so spot on.

We may get a pullback later today if the shorts try to drag it back down and traders take some profits, but even a small pullback will leave us in very good shape. I'm a bit surprised the NR had such a big effect, but then this one has been primed for takeoff for a while. It will be nice if the upcoming news releases have similar effects!

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