Well, it was very interesting day, and looked very positive as...

Well, it was very interesting day, and looked very positive as well.
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On Wednesday I had written the 3 scenarios I thought may play out. I was thinks the chances of 3rd scenario was most. Yesterday CCJ dropped 2%. It touched 58.51, around 5% from high of 62.27. But finished slightly higher at 59.51. .
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In my 3rd scenario I had written a drop towards 55/56 for CCJ before it comes back strongly. There are mixed signals currently. CCJ is still giving a pattern that it may drop there before coming back. But todays trading is saying it may not happen. Why? Most ASX U stocks opened in slight panic, around 5% down for most. But for most that was the bottom of the day. Most recovered, some at near break even - BMN/BOE/DYL among big stocks, but others were in green - PDN/LOT/SLX. So what happened? Did ASX big players got some info that this is it - the drop for second backtest is over, and tonight CCJ will go higher? Not sure what happened, but it was a strong second half play.
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Based on the mixed signals, tonight becomes a very important play. US stocks need to hold here. CCJ needs to hold. Futures still pointing down, but its very early. It can change anytime. It can even open lower and reverse everything, so not much to read there. Important where it finishes.
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At this stage, its still playing as I had written couple of days back, at least CCJ about which I had written. I still feel that may happen.
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But overall a very strong play from ASX U punters. The message is, any dips will be bought. That's a great sign. Lets hope it continues. All the best.