NHL Charts, page-2738

striker

I'm not concerned about the inability for it not to have pushed through the 10.5. The initial massive rise had to stop somewhere as sentiment became a little nervous.

What is more important is the response to the nervousness, and in this case we have had something different to the usual quick retrace. Rather, and as mcexplorer has pointed out, the last two inside bars show that bulls are just poised, and there isn't a bear in sight. Only traders mounted on bulls have been taking advantage of the small range and massive volume to trade one cent between 9 and 10, and probably make a quid too.

As MJ has pointed out, there cannot be (m)any under water here, and the result of this has two outcomes, but the positive one is more likely. As traders and investors are sitting on profits, but with a massive upside more likely than not, there is no reason to bale now on the first sign of some weakness. If many of us were under water, then selling would likely to be our next best strategy and take our profits accordingly. But when upside is obviously far more obvious and likely than downside in the FA development, selling is not really a necessary strategy.

Generally speaking in cases of sudden price rises like this, we all know that an equally strong retrace often occurs. Such rises are most often based on hyped possibility of whatever product the company is selling. In this case, our product is far beyond the hype of mere possibilities. Rather, it is being loaded onto trucks and about to be placed on the shelves, and the customers are moments away from ravaging them, if you don't mind some 'hyperbole-like' metaphor. The overwhelming positive sentiment based on the very strong FA means that no bears can enter this bull ring. They don't belong here, and that is a very rare occurrence in the spec arena. This is not going to change overnight or anytime soon. Even though a small dip could result by end of week if the bulls are denied their grass leaving them a little hungry, they are not about to be displaced by any sleuth of bears.

Anyone who doesn't think so needs to consider better that sentiment is the primary driver of human voluntary action, and trading is exactly that.