Would you mind discussing your thoughts on premarket Morning Gap ups like the one we had today? In terms of having a plan (if this, then that...)
Do you do any premarket selling to lock in profits, then let it open and either fade, stay flat, or continue to climb?
I have been disappointed too many times now on nice moves premarket, only to watch them get washed away. Were there any warning signs that you saw today that signaled that we would fade?
The only one I knew of was that IBD said we were above the monthly trend line as of Friday's close on the Nas... So that piece of info.... .combined with a gap up today... should have told me to sell or at least reduce to avoid a fade.
I am making this my "lesson of the day" and making up several notes on this idea.
Thank you for your help.
John