http://traderpsyches.com/werent-we-supposed-to-be-down-today Trading Psychology, the Thinking Man's Market Psychology Thu, 13 Oct 2011 21:28:50 +0000 hourly 1 http://wordpress.org/?v= http://traderpsyches.com/werent-we-supposed-to-be-down-today/comment-page-1#comment-231 Ben Padilla Sat, 13 Dec 2008 02:07:00 +0000 http://traderpsyches.com/blog/?p=312#comment-231 Price movement at the open can be a "surprise" depending on what happened at the close the day before. The e-mini Russell was gapping down nearly 15 pts at the open, and after a horriffic selloff the day before. Shorts from the day before have a huge incentive to cover at the open, especially when all markets were at/near some price support from earlier this month. As well bulls on the sidelines (the pros) now are even more motivated to get in. Novices are in total shock at the open so they just sell. Thus my guess this a.m was long. Price movement at the open can be a “surprise” depending on what happened at the close the day before. The e-mini Russell was gapping down nearly 15 pts at the open, and after a horriffic selloff the day before. Shorts from the day before have a huge incentive to cover at the open, especially when all markets were at/near some price support from earlier this month. As well bulls on the sidelines (the pros) now are even more motivated to get in. Novices are in total shock at the open so they just sell. Thus my guess this a.m was long.

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