Thats a textbook capitulation spike. Would you ever consider trying to scalp the capitulation reversal?
PDT,I do sometimes, but I prefer a V bottom on capitulation.
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Another buy the rumor, sell the news story from Washington. Remember we had a nice pop on the rumor of the bad bank plan on January 28th. Now, when the actual details of the plan, or lack thereof, are announced, we sell.
2 comments:
Thats a textbook capitulation spike.
Would you ever consider trying to scalp the capitulation reversal?
PDT,
I do sometimes, but I prefer a V bottom on capitulation.
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