Lets have a look at what happened here.
I'd like to think the quarterly slightly overshot expectations. From that, the next day the SP opened high and moved up to $3.73 very quickly. All good. However, we then closed the day in the red following a steady sell off going into 4pm (yesterday), and we further plummeted to $3.34 this morning.
Interesting play. I wonder how many retails this baited off the registry? This is the game the people with money play and they have all moved into Galaxy as we know. This is their play ground and not somewhere to be for the un-researched and uninformed.
I'm not going to lie. The end of yesterday raised warning flags to me that we might repeat what happened last quarterly.
However, the intraday rebound today leaves me with little doubt they (Institutions, banks, professional investors etc) are allowing us appreciate further and we're simply 'shaking the tree'. Forget TA. This is their boat. With the right amount of money you can draw the chart however you want. What we can do is trust in fundamentals, tag along and catch the wave (hopefully). The next thing to look for - whether we can break yesterday's peak for $3.73.
This is what smart money and big money looks like.
(Hey look, gap closed and a dragonfly doji)
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