overnight hold again, page-9

damien83...

I hope I am too...for everyone's sake...matter not to me what price I buy back in at, as I will ride the trends for points regardless of what levels.

But...what I saw this afternoon was the appearance of net selling vhurn, versus the net buying churn we saw at the same time yesterday.

Yesterday's net buyers were obviously behind generating the early morning spike, so they could enhance their average exit price for the day...and in a similar way, this afternoons net sellers will likely instigate a gap down and lower average trading range, either to buy back in, or indeed even push it lower.

The same happened in CNP today...late accumulation yesterday, facilitated gap up this morning...then gradual distribution of stock via facilitated churn all day long.

Equally I am expecting a flat or lower open in CNP, although I am less confident of this aspect as the afternoon distribution appeared to lose downwards momentum as the day went on.

MEO will be a trader for some time now...so plenty of swings to be had for the taking, whether it runs back up to fill the gap, or indeed, back down to fill the more recent one.

Cheers!