3 replies to this topic

[SemiBizz]

http://bigcharts.mar...&mocktick=1.gif



They held this pig up all day. Then right when the MOC (Market on Close) orders were released at 3:40 ET we saw a volume (not on chart) spike down and then a gap down on the subsequent candle, if you look closely you can see it. I remarked to a friend... rut roh, something ugly is coming after the close. And what was it? BZH being investgated for Fraud in connection with mortgage lending. After the close we saw other signs before the news release, like SMH trading a big slug of volume under the day's lows. The BZH news hit the tape at 16:32, but SMH, BZH and the rest of the builders had already started tanking... before the coverup oil story was released. But they had to have something else to blame this tankage on instead of the truth... They never quit, do they?

Edited by SemiBizz, 27 March 2007 - 06:46 PM.

[Mr Dev]

Replying to Iran story was just a coverup for the real bad news

So true!
We've been in the game long enough to have seen that a few times !

Some things never change,... manipulation.

Edited by Mr Dev, 27 March 2007 - 07:08 PM.

[pdx5]

I am now convinced Iran is looking for a fight. Why else would they bother kidnapping 15 British soldiers in the middle of a UN vote for additional sanctions on Iran? If those soldiers ar enot released within a week or so, PM Blair may be forced to take action to save face of the British Lion. In the meanwhile the Persian Gulf is crawling with US 6th fleet, armed and stockpiled with cruise missiles and several hundred jets.

[arbman]

Most of the traders here know that acting on the news will never get you anywhere, it is always acting before the news is out, unless it is a mushroom cloud rising somewhere, even the big market bombs do not occur overnight, even 9/11 type market declines. The market will use the news to either discount further on an ongoing downtrend and bottom or pullback for a buying opportunity in an ongoing uptrend, similarly it will either reach to a buying climax or short squeeze. So, the trend is your friend, not the news, but the reaction to the news is probably your clues about the next trend. If you get caught unprepared, you must act to hedge first, then rebalance completely if needed. You should always assume that the headline news must be somewhat anticipated rather than a market bomb and I tend to fade the overreaction to the news. We might be at such a juncture at this point, here the truth will come out with the volume, not the price... - kisa