Premarket 11/10/2011 | Bulls on Wall Street

Premarket 11/10/2011

Morning folks.  Market gapping up across the board as it seems the world has been saved! Or hope that it will be.  Market overseas were a mixed bag with asian markets taking a strong tumble but euroeans markets flat

  • European markets are mixed in afternoon trading. Britain’s FTSE 100 lost 0.13%, Germany’s DAX added 1.1% and France’s CAC 40 gained 0.6% on the session.
  • Asian stocks ended the session lower. China’s Shanghai lost 1.8%, Japan’s Nikkei 225 slid 2.9% and Hong Kong’s Hang Seng Index tumbled 5.25%.
We have no major economic news coming up today so the session will be dominated by news/rumors.
We do have a key gap to fill.  With this gap up we should be close to that area.  It will be the key zone to watch today

 

The big question today will be after such a nice size gap is whether this offers an opportunity to dump longs and deploy short and sit in cash as we fade and head back towards last weeks lows or the 50 day moving average or do we add longs on an intraday dip with yesterdays lows being our support. Im not sure yet if yesterday was a dip buy opportunity or a sign of bigger things to come. We need more time/evidence to guage what our next move will be

trade tight today. this gap makes things a bit tricky.

didnt see to many premarket gappers that i liked. Filtering through some. here is whats coming in so far on the trade-ideas scanner

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