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Re: jimmenknee post# 11185

Saturday, 10/18/2014 7:48:54 PM

Saturday, October 18, 2014 7:48:54 PM

Post# of 14303
I painted it back up. I usually don't like doing it since I think it skews the chart, but from watching the chart most of the day on Friday, the price was holding at .328 for some time then with 20 minutes left someone sold 7k at .292, a panic sell no doubt because at that low of a price what profit if any could be made, so I immediately painted it back up to .34 with 15 minutes left. Something has to be said that more panic selling didn't happen in the last 15 minutes.i guess because the spread was so wide bet. .292 and .34, no action occurred after my paint. But I only painted since I thought .292 would be misrepresentative of the days action, as I said .328 was the going price for the last few hours on Friday.
So I am not sure you can call the candle a paper tiger, since there was only one sell at .292 within the last hour or so, if that sell wouldn't have happened then I never would have painted and the price eod would have been .328, still a nice bullish candle.
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