Another Day, Another Gap

Published 09/29/2015, 12:32 AM
Updated 07/09/2023, 06:31 AM
SPY
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CSGP
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ADXS
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“Money can’t buy you happiness but it does bring you a more pleasant form of misery.” Spike Milligan

Another day, another gap and today’s gap lower was just the start of what was a very weak day.

Now, we are oversold so some consolidation would be best.

We are still on track to put a nice low in by mid-October or so and then we can pile into the right stocks and more importantly, the right stocks at the right time.

It’s been a while without any real trades but it’s soon to pay off.

That said, I did short a bit today in Advaxis Inc (NASDAQ:ADXS) at 12.40 and CoStar Group Inc (NASDAQ:CSGP) at 170 and I did hold some overnight in small size.

SPY Daily Chart

Good stuff from SPDR S&P 500 (NYSE:SPY) that is holding 197.50 for now and and we are pretty oversold now so a little consolidation would be best before we perhaps put in a double bottom.

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