purely TA theory posts, page-426

Unfortunately today we've seen what happens when significant recent volumes have been retail. Whilst not entirely reliant broker data has been suggestive of this for a number of weeks. I'm concerned that insto's have been selling during the period but today didn't have to happen, the volume suggests more than a dump has occurred, more than stops simply being hit.

I've noticed over the last few weeks especially a great deal more market manipulation happening across a number of spec stocks. Have a look at JCT over a day to see what I mean. I think that sentiment may have cooled in general and "someone" or perhaps multiple agents are using a reduction in general volume to trigger some wild volatility. I'm talking 10-20, even 30% swings with momentum and volume that can seemingly be switched off and on, it's looking more and more manufactured and clearly making someone a fortune, the liquidity is there but it's a beast that I'm struggling to get my head round right now.

Tomorrow will be key for this current behavior on XPE. A buy trigger for me will be when volume continues or increases but the price begins to hold. I'm not certain that we won't see more pain before that happens as the spreads today were pretty epic and i'd be worried about any further hidden volume appearing to crush any rally. I'm uncertain enough that I wouldn't be selling right now but I just can't rate it a buy yet without any clear indication of buyers returning to combat the volume. The charts don't help much when it comes to picking support. If volume selling continues like this it won't stand up.

I'm not concerned however with debate about "bad news coming" or insider trading. There's no evidence of this at play as yet and until there is we need to consider what other market forces are at play here. Good luck to current holders, you've had a hard day.