Wednesday, March 14, 2007

Volume GAP up




I'm looking at the volume gap on YM for todays (3/14/07) close of 12250 for the march contract and there is a volume gap between 12250 to 12350, about 100pts upside potential if the momentum keeps up. Lets see what the PPI does tommorow morning. Would it be a shocker to see the dow rally 300pts tommorow? Scary, considering fridays option expiration and the huge increase in open interest for puts and VIX calls.
Wouldn't just make all the retailers go crazy to see a morning gap lower, then have them all go short again, saying, "I knew I was right", then bam, more pain to the upside, except they hold it longer and the carnage continues. That would be crazy, yet probable given the volatility.
As always trade your signals and don't overleverage yourself.

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