Been lurking for a long time. Wanted to put my two cents worth in but couldn't see coughing up $60 (US!) just for the privilege of sharing my personal wisdom. However, as you now see, ego has overcome my pocketbook!
I see and understand what you're saying, Denise, James W, et al, about the technical retracement and double bottom, etc. However, this close was too weird for me and I need some further opinions. Dagan, you, too; you were simply too right twice before, calling a drop v shortly before it happened (hunh, why were you so close, when I don't really believe quite that one person or one messageboard can have so much power? Can't reconcile this one).
The swing up started with a sudden whack of asks, a big chunk. Now, ignorant as I am, I figured increases started and continued by being *pushed* by increases in bids: more buyers than sellers, and they're willing to pay higher prices. This one was opposite, wasn't it, pulled instead of pushed? Someone(s) started offering lots of shares at a higher price, there weren't many offers but they kept chipping away at the increasing asks. And it just kept going!
Sure fooled me! I had been holding off all day, thinking there'd be a small sell-off in the 2pm-3pm timeframe and I'd buy in then. Passed up $13, all the way up till I jumped in at $13.65, still wondering if this wasn't, as Dagan said, a suckers rally: driving up the price for a big sell.
Sorry about the long post; I guess the pressure's been building for a long time <GGGG>
WUWT |
