Friday, May 29, 2009

The thing I thought I would never ever say on this blog ...

The moves here from 3:59PM to 4:01PM.

Not only did they run MANY MANY stops. They also ran all the limit short orders and then took out the respective stop for each of them at the same time.

Take a look at futures after hours. S&P futures jumped to 930 within 15 seconds and then came all the way back down to 920.

I have to admit, this is something I have not seen in a while. There was one incident during this rally a few weeks ago where they ran quite a few stops pre-market with a huge 8 pt 30 second spike (one that took me out as well) but this is just crazy.

Quite a squeeze that was for sure. Now that we closed on the upper ranges of the line after one entire month of distribution we can GAP up on monday above key resistance and hit 945 at 9:46AM Monday morning.

Speechless .....

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