It was pretty clear that CXY got some momentum behind it so a lot of traders jumped on board in anticipation of the burn news. The sheer volume of short term interest waiting for this news meant that as soon as it was announced, they would be looking to lock in their gains.
That means we have had a rush to the exits. In both directions a few of the less experienced probably got fooled into either entering at the top, or exiting during the pull back.
I think volume will settle down in the next week, and that price will settle to.... probably into a more sustainable up trend. As FF has posted, there is a lot of news to come in the future.
CXY Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
