Nah John, It closed yesterday at 4.06, took off today and came back to 4.07 so there's still a 1 cent gap.
4.15 had nothing to do with it, just an intraday wick. Opens and Closes are where gaps are at.
So despite todays strong spike and then sell-off, the SP is still printing higher lows and has now for 2 weeks. Was it the rise in anticipation of todays announcement??. Don't know myself as I wouldn't have a clue about your funnymentals but we'll find out over the next 2 sessions.
Yes there were many that took the opportunity to cash in, a 10% spike will do that but we were watching the price action and concluded that the sell off was exhausted pretty early. Now I may be completely wrong but the volumes fell away early and the rest of supply was nicely soaked up. The hourly is still in reasonable shape. Wouldn't be surprised to see green candles Monday.
And a hot topic at the moment, here's your short/hedge positions. Nearly 2.2% and that's regarded as pretty insignificant. If it gets to 5% then you can have issues.
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