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Technology Stocks : AUTOHOME, Inc -- Ignore unavailable to you. Want to Upgrade?

To: ahhaha who wrote (20798)4/12/2000 9:58:00 PM
From: E. Davies  Read Replies (2) | Respond to of 29970
 
96% of the trades in the last hour were on down ticks but they didn't make much headway.

It was nice today to be able to easily buy at bid yet not worry that the stock would fall out from under you. Made for good trading.

What it means to me is that the stock is in an area of heavy resistance. I also played the resistance levels of 32, 27 1/2, 26 1/2, and now 26. What I find interesting is how the resistance levels are getting progressively closer and closer together. I bet the next one is 25 3/4.

If 26 (or 25 3/4) holds in the face of the selloff we will see sometime tomorrow then I'll be very hopeful.

Eric



To: ahhaha who wrote (20798)4/12/2000 10:27:00 PM
From: Mooster  Read Replies (1) | Respond to of 29970
 
As soon as a little upside develops, the sellers stop selling market and book to sell. A little buying sends price up smartly, but it is selling that enables the upside action, since the buying isn't arresting shares from someone else.

I don't get it. I understand the initial pop due to a small amount of upside - sellers stop pushing market orders, but how does continued market sells drive the price up higher?

Thanks,
Moose


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