Doug, you stated:
"If the $10,000 on MSFT was at the bid, the technicals would be different than if it was at the ask. If you are unaware of this, you have some reading to do."
Rather than "doing some reading" as you suggest, I would rather have you explain to me how somone selling 83 shares of MSFT at the end of the day Friday would have affected the technicals for the stock. Yes, 83 shares....that's the $10,000 we are using for this discussion, divided by the closing price of MSFT, which was $120. If you contend that someone selling 83 shares of MSFT would have had ANY impact on the stock--when at the closing bell on Friday, Smith Barney was bidding 120 11/16 with an exposure size of 500 shares, and there was a bid in Instinet for 2200 shares also at 120 11/16--you need to learn more about the way the Nasdaq market works.
Conversely, in a stock like AIRM in which there are only about a dozen active MM's, that same $10,000 of capital can trade over 3,000 shares. If you don't think someone wanting to sell 3,000 shares of a $3 stock can affect it--especially since each of the dozen MM's in AIRM is obligated to trade only 1000 shares at a time before being allowed to adjust their quote--well, that speaks for itself.
Concerning ANTX, you stated, "ANTX is on the verge of a significant move. If you see it start moving on good volume, buy it." And if it stays where it is on low volume, you'll justify it by citing that lack of volume...this is what I am referring to when I observe that technnical analysts have selective memories. On another thread, you just posted a list of a few DOZEN stocks you feel have great charts...I would hazard a guess that one or two will go up significantly, and that you'll duly note that. Similarly, regarding ROMT: On this thread (often in response to inquiries from others) you've commented positively on DOZENS of stocks. ROMT went up...fine. As far as I remember, it was not one of the stocks that was formally recommended as a portfolio pick on this thread or any of the other threads to which you contribute. IBAH was, however. Let's stick to the record; that's the only way to evaluate results objectively.
For starters, please tell me how someone buying or selling 83 shares of MSFT on Friday would have altered the stock's technical picture. |
