Originally posted by peacefuldragon:
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Seemed rather textbook in hindsight. Gap up in morning for overly keen buyers. Then trading at 26.5-28c, sell side was heavy giving the impression of selling pressure, whilst accumulation was occurring in this range. Even I was getting ready to sell due to nerves. Once a big order at 27c went through, she started to run and the sell orders were pulled. Damn day traders!!! Takes balls of steel to hold on to this one imo. BIT has gapped up every morning I have noticed so I would expect a gap up tomorrow as well (some may think that it's still a 40% discount as compared to its high). Each day lows become higher. As previously mentioned, VWAP today was around 29c. I'm guessing if there is a pullback we may get to that price and that provides an opportunity but who really knows (day traders :/). There is still massive interest in this leading up to the conference and will not wade anytime soon.
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That buying so close to close looked almost institutional. I'd be interested to see the broker analysis in 3 days time once available.
