m87, I guess the more serious shorts may be sitting in a position not to worry about any large 'short covering' rallies, and the chart is just a way of showing how/where they entered their trades and components of their trading plan. But really its only a mechanical system, its up to the individuals I suppose, because of this latest annoucement will it erode too much of their profits, or will they wait to see what the landscape looks like after the initial dust has settled.
Also, re the volumes, I quite often will highlight a large odd order via webiress and be notified if it moves, and all this week its been fun trying to catch them as they've been leap frogging one another, Normally the buy side has been around 4-5M and when one notices a couple of large 600-700K+ orders move in, well they certainly stand out and take your interest
LYC Price at posting:
59.5¢ Sentiment: None Disclosure: Held
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