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Politics : High Tolerance Plasticity
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To: chowder who wrote (22953)3/22/2005 3:13:58 PM
From: bull_derrick   of 23153
 
Dabum, I wasn't talking about TA in illiquid stocks. I was writing how market makers and specialists trade backwards, how sellers unwinding a position can raise the market price if it's done correctly. That's not a novice play, that's a big deal. TOL is not an illiquid stock yet its CEO was dumping shares and the specialist moved the price up to distribute shares at a profit. Since you mentioned TA, your OBV and other volume indicators tend to be wrong, IMHO, because the assumption that high volume on rising price implies heavy buying interest. My experience is that it's actually the opposite. It's illogical to argue that if a large holder smacks the bid of a specialist and sticks him with inventory that he's going to lower the price and take a loss on it if he can help it. A large holder might be defined as someone holding 15K shares on DRRA or it might be 200K shares on TOL but the principles and the mechanics are the same.
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