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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: kimberley who wrote (22062)10/10/1997 11:12:00 AM
From: Bob Markley   of 35569
 
Kim, ... behind every major swing low/Pivotal Point(PP) the 'public' place stop loss orders, ... they imo are the only people stupid enough to actually place stop loss orders in the market. Over time they bunch up under the 2-3 most recent swing lows. The MM unlike us can 'see' the size and 'gun' for it, to 'hit' the stops. This is a market axiom in every market. All those big trades were not just an illusion, ... were only talking about 2 - 2 1/2 % of the market cap sitting in stops below the PP levels, ... with a market estimated float of about 5 million (approx 25%),...IMO, hitting the stops can have quite an effect on price. As I pointed out to Bijan on Desert Dirt TA, ... just because you see some volume, one cannot just assume that it was institution action, or make the comment that it must have been.

Looking at the bright side these MM are creating quite a lucrative game for swing traders.

Best,
Bob
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