Hi Milt, You took the words right out of my keyboard! On the Lombard intraday -- notice the hard bounce off 5-5/8, and all of the late-day activity afterward. For those who don't know abt the lombard site -- it has a great depiction of intraday trading. Select Graphs, intraday, medium size, and white background. Also type-in AXC, of course.
On your observation, Milt, I too noticed the big blocks. Looks like one at 2:20 or so, followed by this flurry of bargain-hunters after 3:30. I see three 5k, 1 10k, and a couple 5k-10k blocks. This was the most heavily traded time span all day in AXC...
This last fact, plus the behavior I mentioned in an earlier post lead me to guess about a weak bounce tomorrow. I'll probably be shamed, but let's see (I still have my <day> job!).
On a recovery, we are still trending down in all TA indicators. My (probably wrong) guess on this small bounce is based only on past AXC behavior at or near intermediate bottoms (high volume, high volatility) - if this is truly one of those "bottoms". The TA indicators this evening are some of the worst I've seen for AXC so overall downtrend is still the theme. But, a short, weak bounce (remember w/o any news, it's bound to be weak), may be possible.
It's lights out.
RM
|
