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Non-Tech : SWS - An undiscovered gem
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To: John Chapman who wrote (262)5/25/1999 9:25:00 AM
From: JEB  Read Replies (1) of 504
 
I've been watching the level II action on SWS. Last 10 minutes of trading had a large block sell off. Curious. It seemed purposeful to drive down the price. If I am right, SWS should open lower and not because we had a sell off in this sector but because some rather large short positions were taken. SWS was never given the chance to recover at the end. It was pulled down on the bid and the ask and when it looked to recover they loaded up on the ask. So, they should be pulling it down farther overnight to create a sell off in the morning. They use to call it, 'Painting the Tape'. Now, it should be called, 'Painting the Chart'. -IMO-

Good trading,
JEB
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