SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : The Rational Analyst
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: HeyRainier who wrote (180)1/11/1998 10:48:00 PM
From: ftth   of 1720
 
[RADAF] I also like to see a rally after such big selloff before shorting. It happens so frequently that it's hard to justify a short until it does in most cases. But it sure couldn't drum up any demand at the new "bargain" price. Volume was nonexistent on days 3-5 after the supply surge, range was relatively narrow, and it finished in the bottom of the range on 4 out of 5 of these critical days immediately following a large selloff. 3 consecutive days it tried to pierce 16 and the bears pushed it back. The middle (higher volume) day appears to be dominated by short covering (if I had shorted during the plunge, I think that would have been the first point where I felt squeezed). It almost looks like the bulls threw in the towel after that, as supply pressure has dominated since. It looks as though any previous demand at a higher price than its current level (from about thanksgiving to its peak) has been more than nullified by the immense supply hitting the market since 12/11. This may be one of those half position now, double it if rallys to 17 1/2, ride the half position if it doesn't rally cases. New high is pretty well out of the question I would say, but then again, look what the mm's were able to do from 12/16 close to 12/17 open. That's a pretty questionable move when you think about what would have to transpire to create those 2 candles. Hmmm....too "unreliable" to chance it I think. Looks like mm's could squeeze 'ya out very easily even if it does happen to rally back up to 18. I think I talked myself out of this one. Looks like the house has a clear edge.
dh
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News