Bot Chart, page-13780

The gist of today:
- Morning selling / panic
- Demand found
- Buying resumed
- Strong hammer candle finish

Odds we go higher from here? Pretty good if we get a nice lead in overseas tonight. A few biotechs with the same sort of candle.

The only thing worth commenting on, and I guess this is for beginners, is why we fell so fast and I think it comes down to the short term traders.
BOT's last candle finished at the high, on a breakout, on high volume. Statistically and historically, the odds of a gap up on the next day is extremely high.
I know many traders who use this strategy and essentially hold a stock overnight and then sell on open the next day for a few pips and little risk while the stock is actually open.
Now the market seemed spooked this morning, BOT opened lower than Fridays finishing price, and I bet this caught a few traders with their pants down!
For the short term-ers the only option here regarding the risk on their position was to get out and get out quick.

We then got alot of sideways movement or accumulation, and then buying resumed to push us back up to where we were.

Jake D