Hi Doogs - interesting day. Did you notice the 9.4 capper/s at 4...

Hi Doogs - interesting day. Did you notice the 9.4 capper/s at 4 mill shares and then it tested 9.1. Then it got taken and run up to the magic 9.9 for the weekend close.

My observations:

1. The gap up was filled - so that it good technically.
2. The Sp did retrace quickly from 10.5 to 9.1 but remains in the 9's (high nines is bullish)
3. The 9.4 capp wipe was a reentry signal (no, I did'nt take it)
4. The run to 9.9 looked very intentional and I speculate that it is an insto and that they know exactly where to finish the week.

Two likely possibilities for Monday:

1. A set up for another 10 dump and rebuild through the week.
2. A continuation of the run - although I still expect a lot of profit taking at the 10 level. (maybe the instos who will reload)

It could be setting a Cap raise price, it could be putting the SP at a higher val for tender negotiations. Possibly some traders playing the "blue sky" which is the sentiment needed for impulsive SP moves.