Damm that was nasty.. tried to buy at RUT 745 it bounced for like 30 min. LOL went short at 744. sold out at eod.
I held my longs until it was clear we went going to reverse.. so all in all made some coin..
One thing I have learned doing this is always have a back up plan.. that's why I like to trade around support and resistance. if it does not go your way.. you just switch sides.
We will bounce some day... but we could drop another 150 dow points tomorrow. if we get a bad jobs report
RUT is right at 50% retracement of the last run up.. fwiw.
No just kidding. This happens quite a bit on any stock that gaps big and fades on expiration day as many short sellers on the day want to close going into the weekend. Just a tip though for those who dont have access to level 2 quote boards use a 3 min candle. Its best to see three green bars to enter after 3:40 pm. than watching for the shadow on a 10 min chart.
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