two breakouts, page-13

"the market likes pdn and to be buying large vols at $2 says the market expect it to rise higher..."

Buying volume increased massively toward the end of the day near the highs. I normally think arguments about volume at price indicating buyers are a bit silly but in this case the context does give a bullish signal imho. $1.99 is an obvious place to take profits so a large portion of sellers can be explained away by that rather than negative sentiment. Which means on balance there was a lot of confidence in the market.

There's at least one very large player who put serious skin on the table today. a $1.5 million buy and several $1/2 million trades. Out of those few large trades in the last 30 minutes there was approx $2.8 million spent on uptick buys Vs $1.1 million on downtick sells. That means someone with a healthy wad has a strong interest in supporting the price to push through $2.

Tomorrow should see some furious trading action. Might have to haul my carkass out of bed in time for the opening bell tomorrow.