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Technology Stocks : AUTOHOME, Inc

ATHM 23.05

+0.6%

Jan 22 3:59 PM EST

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To: Killian who wrote (3845)	1/5/1999 2:43:00 AM
From: ahhaha	Read Replies (1) of 29970

When the market is starting to test the downside, the tests are brief. Then the short sellers cover again. Next test the selling is stronger, but not enough to remove the instantaneous demand, market orders to buy. The net buying persists, and drives short sellers to cover at rapidly rising prices. New demand sees this rapid rise without volume. They say, "this is short covering", so they book to buy under the market instead of going market. The lack of chasing price causes more selling as the market loses momentum-yuk. Market orders to sell exceed market orders to buy so extra sales hit marginal supply below. Growing awareness of declining price causes demanders to stop entering orders to buy whether booked or market, and emboldens new short sellers. Down she goes. When you are putting limit orders under the market, know you are in a topping phase. When you are putting limit orders over the market to sell, know you are in a bottoming phase. When you are entering market orders to buy, know you are in a declining phase. And you know what happens when you enter an order to sell. Come-uppance

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