AI
Monday, May 08, 2017 8:47:43 AM
Buy:sell, daily shorts & pps 05/05 2017 EOD
The conventional TA items are sending mixed signals, with a bias towards some improvement in certain ones due to what I believe was manipulation. In aggregate, they don't present a strong case yet that we have indeed bottomed and are entering a short-term consolidation. They are moving in that direction, again, though.
My unconventional stuff is more near-term negative but has shown some improvement in a couple items. The improvement though is less than needed to strongly suggest entering consolidation.
I remain with yesterday's { I'm sticking with sideways at best and more near-term weakening as most likely. } I'm adding that I think we will test $0.66 as part of entering any consolidation when we finally do so.
The VWAP has dropped for six consecutive days now. This is a much better indication of what's really going on than the conventional TA metrics and indicators normally used by traders and investors. It's much harder to manipulate than the OLHC metrics and is not swayed by late AH trades or specific individual OLHC movements.
After the first 15 minutes, which experienced the effect of last night's manipulative AH $0.79 x 100 trade (16.19% above the close), we had a generally flattish day with a wide spread and a series of small drops followed by flattish trading all day.
There were no pre-market trades.
B/a just before the open was 500:500 $0.6701/$0.7399
09:30-10:54 opened the day with a 1,613 sell for $0.6897 & $0.68 x 50, $0.680001 x 20. B/a just after open was 3.5K:100 $0.68/$0.7125. Then came 9:32's 1.4K $0.7125/13/14/24/38 (800)/$0.68, 9:36's b/a 4K:167 $0.68/$0.7149, 9:39's 100 $0.68, 9:41's 392 $0.7135/$0.68, 9:44's 300 $0.71/$0.68, 9:48's 300 $0.6999/$0.6801, 9:48's b/a 4K:667 $0.6800/$0.6999, 9:51's 600 $0.6801/2, 9:52's b/a 4.3K:567 $0.68/$0.6910, 9;54's 900 $0.6850/00, 9:59's b/a 10:2.4K $0.6850/98 (bids backed by presented 3.4K $0.68), 9:59's 100 $0.68, 10:07's 4.8K $0.6896 (3K)/00, 10:09's b/a 3.7K:3.4K $0.6800/95, 10:10's 450 $0.68, 10:15's 200 $0.68, 10:17's b/a 3.6K:2.3K $0.6800/93, 10:17's 200 $0.6890/47, 10:20's 17.3K $0.6892 (3.9K)/00 (2K)/93/00 (3K)/50/92/93/97/00/46/92/ ... 93/47/93/47/00/50/00/50/93/49/97/$0.6900/10/50/$0.6875/$0.6950/$0.6875/06/$0.6951/82/00/01/20/22/$0.79, 10:32's b/a 1.3K:900 $0.6820/89.
That began extremely low/no-volume, with the usual one-minute volume spikes, $0.6820/$0.69 with falling highs. B/a at 10:42 was 1K:5K $0.6820/94, 10:47 800:3.4K $0.6820/68. The period ended on 10:54's 153 $0.6837.
10:55-11:40, after two no-trades minutes, began extremely low/no-volume $0.6760/1 after 10:57's 21.3K $0.6820 (2.9K)/00/$0.6760 (200)/66 (100)/96 (100). B/a at 11:02 was 4.3K:2K $0.6760/77, 11:17 4.3K:500 $0.6760/1, 11:33 2.5K:1.2K $0.6762/6. The period ended on 11:40's300 $0.6767/71.
11:41-12:57, after one no-trades minute, began low/medium-volume $0.6762/$0.6817 after 11:42's 12.6K $0.69 (2.5K)/$0.6985 (2.4K)/94 (1K)/99 (1K)/$0.69/$0.6895/$0.6798/66/65/67/66/65/67/66/65/67/66/78/66/78/98/66/$0.6831/$0.6766/$0.69/$0.6831/$0.69/$0.6895/$0.6766/$0.6895/31/$0.6766/$0.6831/$0.69/$0.6766/$0.6895 (200), 11:43's 8.3K $0.6840 (1.3K)/$0.6990/$0.6800 (6.8K) and 11:44's 6.6K $0.6811 (5.7K)/00 (900). B/a at 11:47 was 1K:900 $0.68/$0.6988. Price was interrupted by 12:00's 1.7K $0.6850. B/a at 12:03 was 950:1.6K $0.6762/99. Price was interrupted by 12:16's 6.8K $0.6796/$0.6960. B/a at 12:19 was 1.1K:1.1K $0.6777/$0.68. Price was interrupted by 12:26's 1K $0.6801/90. Volume shifted to extremely low/no-volume $0.6800/10. B/a at 12:31 was 100:400 $0.6806/99, 12:46 3.3K:1.4K $0.6800/98. Price was interrupted by 12:55's 400 $0.6800/98 (100)/00. The period ended on 12:57's 600 $0.68.
12:58-14:14 began a very low-volume sag, with infrequent highs hanging around $0.679x, on 12:58's 3.4K $0.6780/76. B/a at 13:01 was 3.2K:1.8K $0.6760/$0.6898. 13:07's 500 hit $0.6750. 13:13's 400 hit $0.674. B/a at 13:18 was 4.9K:1.8K $0.6740/$0.6898. 13:26's 4.9K hit $0.6740 (4.3K)/24/20 (700). B/a at 13:33 was 18.5K:1.5K $0.6720/99, 13:47 14.9K:1.5K $0.6720/99, 14:02 600:1.3K $0.6750/$0.68. The period ended on 14:14's 764 $0.6737/44.
14:15-16:00, after one no-trades minute, began very low-volume $0.6744/98 on 14:16's 11K $0.6744/49/47/$0.6898 (7.6K)/$0.6747/54/47/50/49/54/47. B/a at 14:17 was 400:1.2K $0.6750/$0.6898, 14:34 was 160:500 $0.6744/$0.6898. Volume was interrupted by 14:39's 18.6K $0.6721/$0.6889/93/98/00/12/93/00/89/98/93/00/93/98/12/ ...$0.6988/$0.68/$0.6722/3. B/a at 14:47 was 700:857 $0.6726/60, 15:02 200:1.6K $0.6751/99, 15:17 3.8K:700 $0.6750/99, 15:32 3.1K:1.6K $0.6750/99, 15:50 1K:700 $0.6776/$0.68. The period and day ended on 15:59's 5.5K $0.6750 (1K)/52/76 (400)/52 (1.9K)/99 (200)/52 (1.7K) and 16:00's 154 sell for $0.68.
There were no AH trades.
Excluding the opening and closing trades (didn't qualify), there were 13 larger trades (>=5K & 3 4K+) totaling 80,062, 19.02% of day's volume, with a $0.6843 VWAP. The count, same as 5/3, seems reasonable for the volume, similar to 5/3's ~429K. The percentage of day's volume is a bit on the low side, lower than 5/3's ~24.6%. My presumption is today's lower VWAP is a cause of this lower percentage due to fewer folks remaining optimistic and willing to buy larger quantities.
The VWAP was above the day's $0.6803, making me think the buyers were hapless, in this instance, retailers.
Today's spread might seem wide but that's due only to the high established in the first 15 minutes, likely set-up by what I noted yesterday: { There was one AH buy of 100 shares for $0.79, 16.19% above the close, at 19:38. This is exactly the sort of trade I've seen in the past that appeared to be a manipulative trade. }
If we use the highest price seen outside that period, $0.6999, the day's spread would be 4.15% instead of the 9.38% seen below.
The movements of buy percentage and VWAP were inversely correlated through ~13:00 and correlated thereafter, more or less what I would expect if price was set to take advantage of the unwary early on, before they could recognize what was happening. Regardless, movements in both metrics were quite small and may be nothing of significance in spite my mu TFH's insistence to the contrary.
The ending buy percentage continues in a range that suggests lower.
On the traditional TA front, movements were:
Beyond that we see the high was down significantly from yesterday, as was the volume. Since I've been seeing an end to this leg down nearing for a couple days (and then the metrics go against it), I guess this should not be surprising. It's looking like entry to short-term consolidation, with a mildly negative or flat bias now because the volume would suggest (again!) no strength to the down side.
On my minimal chart, yesterday the most significant thing was we blew right through the $0.70 potential support that held the prior day. We did it on volume rising for the second consecutive day. The day's high stopped exactly, AFAICT, on the medium-term ascending resistance (former support, rising orange line). The day's low stopped just 1 cent above the 12/30/16 all-time low of $0.66.
I said { Since tomorrow is Friday, I wouldn't be surprised to see much lower volume (which I expected today - silly me) and a generally flattish price behavior. But with what we've seen recently I couldn't say what the chances are we'll see that. } We got the lower volume and after the first 15 minutes flattish behavior with a relatively wide spread and slightly weakening lows.
The trading range was almost exactly centered on the $0.70 support and closed below it at $0.68 on falling, but still relatively high, volume. At least it stopped rising. This suggests downward strength is abating but is still relatively strong. Looking only at this one would surmise that $0.66, only 1.2 cents down from today's low, would be tested relatively quickly and the short-term descending resistance, falling orange line, implies continued resistance to any move up and pressure to move down.
However, with a higher low and lower high combined with falling volume the inclination is to believe short-term consolidation is finally taking hold. That doesn't preclude testing $0.66, it just suggests that support is more likely to hold, at least initially.
All this makes me think today the ATM may not have been in heavy use.
We continue "pushing" the lower experimental 13-period Bollinger band limit for the sixth consecutive day, not a good sign. Trading range was again completely, and substantially, below the falling mid-point, $0.7377.
Both the fast and slow EMAs continue to decline with the fast below the slow. The gap from the slow down to the fast is now $0.0420 (was $0.0389).
All this leaves me seeing a chance that we do finally enter the consolidation but with a test of $0.66 included.
On my one-year chart, for the sixth consecutive day, trading range was completely below all SMAs, all of which are falling with the 10-day below the 50-day SMA. The 20-day is still above the 50-day, but I believe the 20 will cross below the 50 tomorrow, or maybe the next day.
Yesterday the oscillators I watch had weakening in every oscillator. Each one was below neutral. Oversold were RSI, Williams %R and full stochastic.
Today had very marginal improvement in RSI, momentum and Williams %R. Weakening occurred in accumulation/distribution, MFI (untrusted by me) and full stochastic. ADX-related began to flatten. Everything is below neutral. Still oversold are RSI, Williams %R and full stochastic. MFI is barely above oversold.
The experimental 13-period Bollinger limits, $0.6756 and $0.7998 ($0.6879 and $0.8044 yesterday), continued diverging as both limits declined, the lower faster than the upper. The mid-point is falling.
All in, yesterday I said { Only the volume and the oversold conditions could be possibly considered as a bullish indication. However, as mentioned above, the volume is rising for the second day and may not be a relatively high enough level to suggest the bottom is in. I'll be looking for a reducing volume. We might see it tomorrow, but tomorrow is Friday and so we can't really give it the same weight we might on other days. }
We got the reducing volume and still can't see a definite suggestion that the bottom is in even though the low was up 2/10ths of a cent. If we factor in the oscillators going from all weakening to mixed we might be tempted to stick our neck out and say the bottom is in but today was Friday and we have to give less credence to those suggestions than we would on other days.
I ended with { I'm going with a move to at least touch $0.66, but for that AH trade I mentioned. If that really was a manipulation trade I guess we could see price hold so that more shares can be sold ATM, which I believe accounts for the recent price behavior. }
I think I'll stick with that for now. When more positive indications appear with some agreement among the conventional TA indications and support from my unconventional stuff I'll be more likely to get off that position.
Percentages for daily short sales and buys moved in the same direction, good and normal, but the short percentage moved up to very near the upper limit of my desired range while the buy percentage managed only to get up to a range that still suggests weakening, just not as strongly. This is one of the items that makes me think the ATM was not in use today.
The spread remains wide, thanks to the, IMO, manipulative AH trade last evening. If we discount the effect, I think, of that and use a high of $0.6999, the spread would be 4.15%, still a bit wide for consolidation, but much closer to suggesting we might be moving into consolidation. Since we had no AH trade today we should get a clearer picture tomorrow.
The VWAP's rolling average of the last twenty-four movements held steady for the third day at 15 negatives and 9 positives. Change since 03/31 is -$0.0879, -11.44%, and the averages of the rolling 24-day period seen in the last few days (latest first) are now -0.4703%, -0.5319%, -0.4198%, -0.2739%, -0.1888%, -0.1311%, 0.1088%, 0.0842%, -0.2035%, and -0.1687%.
The VWAP has dropped for six consecutive days now.
All in, only the short percentage, barely, and trade volume down ~31% suggests we might finally be hearing a bottom and turn. I'm thinking not yet though as the short percentage is at the high end of my desired range while the buy percentage is far below what's needed to suggest near-term price stability, much less improvement.
Bill
The conventional TA items are sending mixed signals, with a bias towards some improvement in certain ones due to what I believe was manipulation. In aggregate, they don't present a strong case yet that we have indeed bottomed and are entering a short-term consolidation. They are moving in that direction, again, though.
My unconventional stuff is more near-term negative but has shown some improvement in a couple items. The improvement though is less than needed to strongly suggest entering consolidation.
I remain with yesterday's { I'm sticking with sideways at best and more near-term weakening as most likely. } I'm adding that I think we will test $0.66 as part of entering any consolidation when we finally do so.
The VWAP has dropped for six consecutive days now. This is a much better indication of what's really going on than the conventional TA metrics and indicators normally used by traders and investors. It's much harder to manipulate than the OLHC metrics and is not swayed by late AH trades or specific individual OLHC movements.
After the first 15 minutes, which experienced the effect of last night's manipulative AH $0.79 x 100 trade (16.19% above the close), we had a generally flattish day with a wide spread and a series of small drops followed by flattish trading all day.
There were no pre-market trades.
B/a just before the open was 500:500 $0.6701/$0.7399
09:30-10:54 opened the day with a 1,613 sell for $0.6897 & $0.68 x 50, $0.680001 x 20. B/a just after open was 3.5K:100 $0.68/$0.7125. Then came 9:32's 1.4K $0.7125/13/14/24/38 (800)/$0.68, 9:36's b/a 4K:167 $0.68/$0.7149, 9:39's 100 $0.68, 9:41's 392 $0.7135/$0.68, 9:44's 300 $0.71/$0.68, 9:48's 300 $0.6999/$0.6801, 9:48's b/a 4K:667 $0.6800/$0.6999, 9:51's 600 $0.6801/2, 9:52's b/a 4.3K:567 $0.68/$0.6910, 9;54's 900 $0.6850/00, 9:59's b/a 10:2.4K $0.6850/98 (bids backed by presented 3.4K $0.68), 9:59's 100 $0.68, 10:07's 4.8K $0.6896 (3K)/00, 10:09's b/a 3.7K:3.4K $0.6800/95, 10:10's 450 $0.68, 10:15's 200 $0.68, 10:17's b/a 3.6K:2.3K $0.6800/93, 10:17's 200 $0.6890/47, 10:20's 17.3K $0.6892 (3.9K)/00 (2K)/93/00 (3K)/50/92/93/97/00/46/92/ ... 93/47/93/47/00/50/00/50/93/49/97/$0.6900/10/50/$0.6875/$0.6950/$0.6875/06/$0.6951/82/00/01/20/22/$0.79, 10:32's b/a 1.3K:900 $0.6820/89.
That began extremely low/no-volume, with the usual one-minute volume spikes, $0.6820/$0.69 with falling highs. B/a at 10:42 was 1K:5K $0.6820/94, 10:47 800:3.4K $0.6820/68. The period ended on 10:54's 153 $0.6837.
10:55-11:40, after two no-trades minutes, began extremely low/no-volume $0.6760/1 after 10:57's 21.3K $0.6820 (2.9K)/00/$0.6760 (200)/66 (100)/96 (100). B/a at 11:02 was 4.3K:2K $0.6760/77, 11:17 4.3K:500 $0.6760/1, 11:33 2.5K:1.2K $0.6762/6. The period ended on 11:40's300 $0.6767/71.
11:41-12:57, after one no-trades minute, began low/medium-volume $0.6762/$0.6817 after 11:42's 12.6K $0.69 (2.5K)/$0.6985 (2.4K)/94 (1K)/99 (1K)/$0.69/$0.6895/$0.6798/66/65/67/66/65/67/66/65/67/66/78/66/78/98/66/$0.6831/$0.6766/$0.69/$0.6831/$0.69/$0.6895/$0.6766/$0.6895/31/$0.6766/$0.6831/$0.69/$0.6766/$0.6895 (200), 11:43's 8.3K $0.6840 (1.3K)/$0.6990/$0.6800 (6.8K) and 11:44's 6.6K $0.6811 (5.7K)/00 (900). B/a at 11:47 was 1K:900 $0.68/$0.6988. Price was interrupted by 12:00's 1.7K $0.6850. B/a at 12:03 was 950:1.6K $0.6762/99. Price was interrupted by 12:16's 6.8K $0.6796/$0.6960. B/a at 12:19 was 1.1K:1.1K $0.6777/$0.68. Price was interrupted by 12:26's 1K $0.6801/90. Volume shifted to extremely low/no-volume $0.6800/10. B/a at 12:31 was 100:400 $0.6806/99, 12:46 3.3K:1.4K $0.6800/98. Price was interrupted by 12:55's 400 $0.6800/98 (100)/00. The period ended on 12:57's 600 $0.68.
12:58-14:14 began a very low-volume sag, with infrequent highs hanging around $0.679x, on 12:58's 3.4K $0.6780/76. B/a at 13:01 was 3.2K:1.8K $0.6760/$0.6898. 13:07's 500 hit $0.6750. 13:13's 400 hit $0.674. B/a at 13:18 was 4.9K:1.8K $0.6740/$0.6898. 13:26's 4.9K hit $0.6740 (4.3K)/24/20 (700). B/a at 13:33 was 18.5K:1.5K $0.6720/99, 13:47 14.9K:1.5K $0.6720/99, 14:02 600:1.3K $0.6750/$0.68. The period ended on 14:14's 764 $0.6737/44.
14:15-16:00, after one no-trades minute, began very low-volume $0.6744/98 on 14:16's 11K $0.6744/49/47/$0.6898 (7.6K)/$0.6747/54/47/50/49/54/47. B/a at 14:17 was 400:1.2K $0.6750/$0.6898, 14:34 was 160:500 $0.6744/$0.6898. Volume was interrupted by 14:39's 18.6K $0.6721/$0.6889/93/98/00/12/93/00/89/98/93/00/93/98/12/ ...$0.6988/$0.68/$0.6722/3. B/a at 14:47 was 700:857 $0.6726/60, 15:02 200:1.6K $0.6751/99, 15:17 3.8K:700 $0.6750/99, 15:32 3.1K:1.6K $0.6750/99, 15:50 1K:700 $0.6776/$0.68. The period and day ended on 15:59's 5.5K $0.6750 (1K)/52/76 (400)/52 (1.9K)/99 (200)/52 (1.7K) and 16:00's 154 sell for $0.68.
There were no AH trades.
Excluding the opening and closing trades (didn't qualify), there were 13 larger trades (>=5K & 3 4K+) totaling 80,062, 19.02% of day's volume, with a $0.6843 VWAP. The count, same as 5/3, seems reasonable for the volume, similar to 5/3's ~429K. The percentage of day's volume is a bit on the low side, lower than 5/3's ~24.6%. My presumption is today's lower VWAP is a cause of this lower percentage due to fewer folks remaining optimistic and willing to buy larger quantities.
The VWAP was above the day's $0.6803, making me think the buyers were hapless, in this instance, retailers.
From 10:46 onward we had a flattish day punctuated by some very small moves up and down to another flattish period. Some high-volume single minutes frequently interrupted the generally low-volume periods.Ending Period Period Period __Per. Trade_ Period_ % Day_ Per. End
Period Volume Low High _Dollar Val._ VWAP___ Volume Buy ~%
10:54 43107 $0.6800 $0.7138 $29,629.12 $0.6873 10.24% 36.79% Incl 10:37 $0.6900 4,800
11:40 46112 $0.6760 $0.6820 $31,296.53 $0.6787 10.96% 44.56% Incl 11:30 $0.6778 4,411 11:33 $0.6768 5,000
12:57 86551 $0.6762 $0.6990 $59,107.08 $0.6829 20.56% 40.90% Incl 11:44 $0.6811 5,685 11:53 $0.6817 5,000
12:02 $0.6850 6,100 12:16 $0.6960 5,166
12:22 $0.6800 5,000
14:14 82758 $0.6720 $0.6898 $55,967.61 $0.6763 19.66% 36.37%
16:00 156039 $0.6721 $0.6988 $106,033.95 $0.6795 37.07% 42.38% Incl 14:16 $0.6898 6,300 14:39 $0.6988 8,600
14:46 $0.6755 6,700 14:55 $0.6799 12,800
14:58 $0.6800 4,500
Today's spread might seem wide but that's due only to the high established in the first 15 minutes, likely set-up by what I noted yesterday: { There was one AH buy of 100 shares for $0.79, 16.19% above the close, at 19:38. This is exactly the sort of trade I've seen in the past that appeared to be a manipulative trade. }
If we use the highest price seen outside that period, $0.6999, the day's spread would be 4.15% instead of the 9.38% seen below.
The movements of buy percentage and VWAP were inversely correlated through ~13:00 and correlated thereafter, more or less what I would expect if price was set to take advantage of the unwary early on, before they could recognize what was happening. Regardless, movements in both metrics were quite small and may be nothing of significance in spite my mu TFH's insistence to the contrary.
The ending buy percentage continues in a range that suggests lower.
On the traditional TA front, movements were:
The close and low changes were insignificant, leaving the other metrics as the only things to consider for offered clues. The big one is the open and that should be considered in light of the late AH apparent manipulation attempt, which I consider to have been a failure as the open was over $0.10 below the AH trade price.__Open_ ___Low_ __High_ _Close_ Volume_
Today -6.16% 0.30% -2.88% 0.01% -31.00%
Prior 2.08% -4.29% -2.00% -5.56% 42.44%
Beyond that we see the high was down significantly from yesterday, as was the volume. Since I've been seeing an end to this leg down nearing for a couple days (and then the metrics go against it), I guess this should not be surprising. It's looking like entry to short-term consolidation, with a mildly negative or flat bias now because the volume would suggest (again!) no strength to the down side.
On my minimal chart, yesterday the most significant thing was we blew right through the $0.70 potential support that held the prior day. We did it on volume rising for the second consecutive day. The day's high stopped exactly, AFAICT, on the medium-term ascending resistance (former support, rising orange line). The day's low stopped just 1 cent above the 12/30/16 all-time low of $0.66.
I said { Since tomorrow is Friday, I wouldn't be surprised to see much lower volume (which I expected today - silly me) and a generally flattish price behavior. But with what we've seen recently I couldn't say what the chances are we'll see that. } We got the lower volume and after the first 15 minutes flattish behavior with a relatively wide spread and slightly weakening lows.
The trading range was almost exactly centered on the $0.70 support and closed below it at $0.68 on falling, but still relatively high, volume. At least it stopped rising. This suggests downward strength is abating but is still relatively strong. Looking only at this one would surmise that $0.66, only 1.2 cents down from today's low, would be tested relatively quickly and the short-term descending resistance, falling orange line, implies continued resistance to any move up and pressure to move down.
However, with a higher low and lower high combined with falling volume the inclination is to believe short-term consolidation is finally taking hold. That doesn't preclude testing $0.66, it just suggests that support is more likely to hold, at least initially.
All this makes me think today the ATM may not have been in heavy use.
We continue "pushing" the lower experimental 13-period Bollinger band limit for the sixth consecutive day, not a good sign. Trading range was again completely, and substantially, below the falling mid-point, $0.7377.
Both the fast and slow EMAs continue to decline with the fast below the slow. The gap from the slow down to the fast is now $0.0420 (was $0.0389).
All this leaves me seeing a chance that we do finally enter the consolidation but with a test of $0.66 included.
On my one-year chart, for the sixth consecutive day, trading range was completely below all SMAs, all of which are falling with the 10-day below the 50-day SMA. The 20-day is still above the 50-day, but I believe the 20 will cross below the 50 tomorrow, or maybe the next day.
Yesterday the oscillators I watch had weakening in every oscillator. Each one was below neutral. Oversold were RSI, Williams %R and full stochastic.
Today had very marginal improvement in RSI, momentum and Williams %R. Weakening occurred in accumulation/distribution, MFI (untrusted by me) and full stochastic. ADX-related began to flatten. Everything is below neutral. Still oversold are RSI, Williams %R and full stochastic. MFI is barely above oversold.
The experimental 13-period Bollinger limits, $0.6756 and $0.7998 ($0.6879 and $0.8044 yesterday), continued diverging as both limits declined, the lower faster than the upper. The mid-point is falling.
All in, yesterday I said { Only the volume and the oversold conditions could be possibly considered as a bullish indication. However, as mentioned above, the volume is rising for the second day and may not be a relatively high enough level to suggest the bottom is in. I'll be looking for a reducing volume. We might see it tomorrow, but tomorrow is Friday and so we can't really give it the same weight we might on other days. }
We got the reducing volume and still can't see a definite suggestion that the bottom is in even though the low was up 2/10ths of a cent. If we factor in the oscillators going from all weakening to mixed we might be tempted to stick our neck out and say the bottom is in but today was Friday and we have to give less credence to those suggestions than we would on other days.
I ended with { I'm going with a move to at least touch $0.66, but for that AH trade I mentioned. If that really was a manipulation trade I guess we could see price hold so that more shares can be sold ATM, which I believe accounts for the recent price behavior. }
I think I'll stick with that for now. When more positive indications appear with some agreement among the conventional TA indications and support from my unconventional stuff I'll be more likely to get off that position.
Percentages for daily short sales and buys moved in the same direction, good and normal, but the short percentage moved up to very near the upper limit of my desired range while the buy percentage managed only to get up to a range that still suggests weakening, just not as strongly. This is one of the items that makes me think the ATM was not in use today.
The spread remains wide, thanks to the, IMO, manipulative AH trade last evening. If we discount the effect, I think, of that and use a high of $0.6999, the spread would be 4.15%, still a bit wide for consolidation, but much closer to suggesting we might be moving into consolidation. Since we had no AH trade today we should get a clearer picture tomorrow.
The VWAP's rolling average of the last twenty-four movements held steady for the third day at 15 negatives and 9 positives. Change since 03/31 is -$0.0879, -11.44%, and the averages of the rolling 24-day period seen in the last few days (latest first) are now -0.4703%, -0.5319%, -0.4198%, -0.2739%, -0.1888%, -0.1311%, 0.1088%, 0.0842%, -0.2035%, and -0.1687%.
The VWAP has dropped for six consecutive days now.
All in, only the short percentage, barely, and trade volume down ~31% suggests we might finally be hearing a bottom and turn. I'm thinking not yet though as the short percentage is at the high end of my desired range while the buy percentage is far below what's needed to suggest near-term price stability, much less improvement.
Bill
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