The “BEASTS” Gapped it up.

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The “BEASTS” Gapped it up.

Dec 12th, 2007 by Tony Oz

As I mentioned in yesterday’s class, one of the biggest challenges we have been having in recent months is dealing with the overnight “beasts”.

As the S&P was tanking and trading around 1493, I said that the 1470’s will be reached as there was an 85% chance of making a lower low the following day (which we did make after a huge gap up), but I also said that the “beasts” will probably gap it up overnight.

Welcome to the new market, and the new Fed… take notes!

See you tomorrow in class 11:00 am PST.

Posted in Stock Trading Class | 3 Comments

3 Responses to “The “BEASTS” Gapped it up.”

on 12 Dec 2007 at 9:06 pm1Trader-9

Tony,
A few questions:
1. If I want to forecast the market independently after the 13-week class, what are the basic rules that I should follow?
2. I don’t feel like I know enough to graduate from “Oz School of Witchcraft and Wizardry”. Do you have any recommendations on charting reading books other than the Oz books?
3. You mentioned that you were going to address how to use VWAP to trade. Can you mention it?
Thanks,
Trader-9
on 13 Dec 2007 at 7:16 am2Trader-14

Another “hole” in my knowledge: What is VWAP ??
on 13 Dec 2007 at 10:24 am3Trader-15

volume weighted average price

checkout http://en.wikipedia.org/wiki/VWAP

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The “BEASTS” Gapped it up.

3 Responses to “The “BEASTS” Gapped it up.”

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