monday musings, page-42

My opinion is that the short end of town would have a plan for when the demand hit to contain any rise and accumulate stock under $1 to cover.

The last big green upthrust we saw was a quick cover follwed by another push down to shake the tree.

So I reckon that its the start of covering now which doesn't mean they wont go short again but they will want to reign in their position as the company derisks further.

It looks to me like they set blocks either side of the trading action set themselves in the buy side to accumulate, set themselves on the sell side to force sellers to take the price at the line rather than wait in the cue.

Then force it down to hit the stops and buy more.

Very controlled accumulation. If they wanted it down then 60M in vol should have smashed it heaps lower.

Also looking at OBV rising yesterday sort of supports this view of accumulation because if it were distribution I would expect this to fall.

%R getting out of oversold as lead indicator and RSI rising also support this IMO..

Thats just what I reckon, maybe it doesn't make sense but hey - thats what I reckon.

Have a great day chartists..now to work.