Wednesday, April 20, 2011

4/20 Daily Summary

Wow! I confess I had to do a double-check on the market price when I saw this huge spike to the up-side. I wonder how this would affect any trader in a butterfly position on the NDX.. Hopefully the butterfly trader would have cashed out prior to this spike based on the quiet action in the past several days.

I'm basically just watching and reading, not doing any extra trading. Not taking any breakout on the IBD 50 unless they get convinced we're back in an up-trend.