Clarification - please read this article, page-151

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Pandachan

132 Posts.

06/02/16

19:39

Post #: 16959033
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Originally posted by Mike B ↑

You could probably do with learning a bit about accumulation and distribution of a stock before you go blaming day traders for your stock not moving up like you wanted it too..
Not because I care what you think about day traders - but because you will loose your money if you don't.

No stock that has been traded 45 times in a day is being played by day traders..
Go look at the COT for TND / CXO / PRG - these are the stocks with the liquidity day traders want (and need - and were playing last week). CCF was a good day trade on the 8th of Jan, but not at all this week or last.

What we have seen with CCF for the last couple of weeks is slow and steady accumulation by "Pro's" "Smart Money" Big Fish" - call them whatever you want.. from impatient little people.. and they don't usually trade for pips..

Anything under 13.5 is getting seriously bought, so support is at that level for now..
The test will be the resistance - or "wall" at 15 - if it can get through that there is a good chance it will keep moving up... If the supply is greater than the demand - it's probably going to trade in this range until something happens like news, or financials are released etc..

Not having a go - just think your initial comment was a little mis-leading.

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Thank you for clarification Mike, I am very new to trading, and CCF just happened to the first stock I picked, so learning something new each day.

CCF Price at posting: 14.5¢ Sentiment: Hold Disclosure: Not Held
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