rollsroyce1977...
I see an upwards bias...this I why I held an overnight position.
However, near-term activity will be at the mercy of the spin-doctors...if they smell blood in the air re market cap related default "noise" they will hit it hard...likewise, if they sniff the odd large margin call position, they can equally be expected to molest it to the downside.
If however the management can manage to cross them off at the pass, as they clearly appear to be attempting judging by todays "urgent" announcement, then if they can make worth the while of certain groups, we may end up with opposing forces at work, with the winner taking the spoils.
If the upside players manage to push it hard enough, we could possible see a reversal of the current shortinduced sell-down, with a short-covering buy-up.
Far to liquid at the moment to guess...and really, that is all it would be.
Having said that, I usually find a night of reflection will correct any imbalances the next morning...as such, I am leaning towards a gap-up on the open.
Cheers!
ABS
a.b.c. learning centres limited
how long until 3dollars and tom predictions, page-8
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