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The Effect of the Late Day Jacking Up

Started by redfoliage2 , Jul 29 2009 07:50 PM

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3 replies to this topic

#1 redfoliage2

Member

Traders-Talk User
19,897 posts

Posted 29 July 2009 - 07:50 PM

The selling pressure has not been released thanks to the late day jacking up. It could be the shorts covering their day trades, it could be due to hedggies, it could be the Fed, and it could be due to the end of month operations. Regardless whatever, the net effect is that selling pressure has not been released.

Edited by redfoliage2, 29 July 2009 - 07:52 PM.

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#2 snorkels4

bad guy

Traders-Talk User
2,677 posts

Posted 29 July 2009 - 09:09 PM

lotta retesting needed or eating supply to take higher so insider can sell higher <_<

or just retesting high on lighter volume <_<

http://stockcharts.c...id=p26361348694

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http://www.zimbio.co...Veyron Crashing

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#3 VolPivots

Member

Chartist
3,203 posts

Posted 29 July 2009 - 10:11 PM

2 days of fairly negative breadth...i suppose largely due to the China effect today (e.g. commodities got hammered). but it's month-end... big 'ole "airpocket" below that will likely be tested...just a matter of when.