Yes..."fake bids everywhere"...but do you understand to what end?
I never like to see this sort of thing, but it is not always an indication of a "pump and dump", or a stock to be avoided...this sort of activity can also be seen during genuine runs.
Some major accumulation going on...the bid pulling, as I read it, is doing nothing more than flushing out a few "temporary" holders into the waiting arms of those pulling the "fake bids".
I suspect the same bid pullers are also responsible for loading the bases higher up...clearly with a view to accumulating at lower levels.
DIA ran far too quickly for everyone to get set the other day...there would be many keen to pick these up, but obviously for as little as possible.
This has legs in my opinion...not sure when, but I would be very surprised if it wasn't back up testing the recent highs fairly shortly...and if that should be breached, 20c should be a mere formality.
As I said yesterday, I saw 13c as an important number...an observation that has been confirmed this morning...as such, a close at or above this figure would be excellent for Monday.
Cheers!
DIA Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
