Volume climaxes at highs or lows aren't always the sign of a change.
But after a nice run up, it's usually safe to assume it's over for a while. Now we've had the run and then the inevitable fall back, we can more accurately judge this thing.
The buying has pretty well dried up, but we're stabilizing in a new, higher range. A lot of shares changed hands just before the move, signifying it probably was one or more big funds buying for the long haul. They probably continued buying for a while, and then the momentum players got involved, the shorts got squeezed, all that good stuff.
BAY is still in a long term bull pattern, so I'm hanging onto the bulk of my shares. I should have been trading it smarter, though, and not have gotten emotionally involved. It's just that it had been a while since I'd had a near 2 banger, and I got a little off kilter. Oh well.
Incidentally, you can ignore someone without explicit use of the ignore button. Getting involved in flame exchanges can interfere with making the intelligent choices that will keep you in the game for a long time. It also cheapens the thread as a whole and brings you down to whatever level the exchange is being conducted at.
Just my opinion.
CD |
