Tuesday, May 16, 2017 12:53:22 PM
Buy:sell, daily shorts & pps 05/15 2017 EOD
Today was a classic scalp by the professionals of the unwary IMO. Open high, go higher, hold it up there for a while, drop a bit, hold it there for a while, and all with good volume. Then around 12:06 go near the day's low and trade a long flattish $0.6499/$0.65 (give or take a few hundredths of a penny) for almost the rest of the day.
During all this the buy percentage was looking really quite decent. But VWAP was not responding to the apparent buying. That's when I strongly suspected we were being had.
There were no pre-market trades.
B/a just before open was 100:400 $0.64/$0.70.
09:30-09:58 opened the day with a 3,048 sell for $0.65 & $0.67 x 100. B/a just after open was 300:900 $0.6501/$0.67. Then came 9:33-38 all doing 200 $0.67. Then came 9:36's b/a 300:300 $0.6501/$0.67, 9:39's 400 $0.6501 (100)/$0.67, 9:40's 100 $0.68, 9:41's 500 $0.68/$0.6501 (100)/$0.68, 9:42's 100 $0.68, 9:42's b/a 400:2K $0.6501/$0.6899, 9:43's 200 $0.6899/$0.67, 9:44's 200 $0.6899, 9:45's 100 $0.6899, 9:46's 300 $0.6899, 9:47's 300 $0.67/8, 9:48's 200 $0.6899, 9:49's 200 $0.6640/$0.6899. 9:50-:55 all traded 100-200 $0.6899. B/a at 9:52 was 500:785 $0.6501/$0.6899. Then came 9:56's 100 $0.67, 9:57's b/a 1.4K:10.8K $0.67/9, 9:57's 450 $0.67/9/8/9, and the period ended on 9:58's 100 $0.69.
9:59-10:45 did an extremely low/no-volume small step lower on 9:59-10:03's 500 $0.68/9 and 10:05's 900 $0.68 (700)/$0.6727/68 and then began very low-volume $0.6775/99, doing a very slow and small rise. B/a at 10:02 was 1.3K:500 $0.6707/$0.68 (bids rising). By 10:21 range was $0.6799/$0.68. Volume was interrupted by 10:30's 6.2K $0.6799. B/a at 10:32 was 2.6K:300 $0.6799/$0.68. The period ended on 10:45's 900 $0.6799/$0.68.
10:46-10:57 had b/a at 10:47 of 200:10.7K $0.6799/$0.68. After two no-trades minutes, trade began extremely low/no-volume $0.6701/$0.6798 on 10:48's 1.1K $0.6799 (800)/01. B/a at 10:51 was 500:400 $0.6701/98. The period ended on 10:57's 2.3K $0.6798 (2K)/$0.6701.
10:58-11:39 did a 2 cent drop on 10:58's 10.4K $0.6701/0 (3.4k)/1 (5.7K)/0/$0.6501 (200) and began [very] low-volume $0.6501/$0.67 with very slowly rising lows and highs. B/a at 11:02 was 300:923 $0.6501/$0.67, 11:17 200:300 $0.6501/$0.67, 11:32 400:100 $0.6511/$0.67. The period ended on 11:39's 100 $0.6808.
11:40-12:10 began very low-volume $0.6511/$0.6744, with slowly rising lows and less-slowly falling highs on 11:40's 11.2K $0.6608/$0.6705/$0.68 (9.7K, 2 lrg trds)/$0.6530/11/13/ ... $0.6656/$0.6514/11. B/a at 11:44 was 200:200 $0.6511/$0.6770, 12:02 200:300 $0.6516/$0.6740. The period ended on 12:10's 200 $0.6551/$0.6646.
12:11-12:24 begin a rapid high->low->high-volume drop on 12:11's 24.5K $0.6646/$0.6551/50/17/10/01/00 (18.1K)/$0.6499. B/a at 12:17 was 3.7K:34.1K $0.6446/$0.65. The drop hit 12:21's 11.1K $0.6478/58/6420 (10K blk) and ended on 12:24's 2K $0.6419 (1K)/15/17. It turns out this drop invoked a buying spree - see below.
12:25-12:53 did a low->high-volume bump up on 12:25-:27's 4.6K $0.6420/19/20 and 12:29's 18.9K $0.6420 (15.6K)/$0.65 (3.3K). B/a at 12:30 was 3.1K:4.4K $0.6499/$0.65. That began a mixed-volume rise from $0.6499/$0.65. 12:40's 4.6K hit $0.65/6 (1.8K). B/a at 12:44 was 200:200 $0.6550/$0.6699. 12:49's 5.3K hit $0.6550/$0.6697/$0.6501/2 (OHLC). The period ended on 12:53's 32.2K $0.6620/90/$0.65/$0.65 (OHLC).
12:54-15:10 began extremely low/no-volume $0.6499/$0.6501 on 12:54's 1.1K $0.6501 (1K)/00. B/a at 13:02 was 100:11.3K $0.6499/$0.65. Almost all minutes, but for a few with 0 trades, 13:10-:21 were 100 shares $0.65. B/a at 13:17 was 700:11.3K $0.6499/$0.65. Volume was interrupted by 13:22's 8.6K $0.65 (100)/$0.6499 (8.5K blk). B/a at 13:24 was 800:10.9K $0.6499/$0.65, 13:32 700:12K $0.6499/$0.65. Volume was interrupted by 13:43's 5.4K $0.65. B/a at 13:47 was 1.2K:11K $0.6499/$0.65, 14:02 1.2K:11.3K $0.6499/$0.65. All trades 14:05-14:49, but for 14:23's 1K, were 100-300 (mostly 100, 200) share minutes at $0.65! B/a at 14:18 was 1K:10.6K $0.6499/$0.65, 14:32 1.2K:10.4K $0.6499/$0.65, 14:49 500:8.5K $0.6499/$0.65. Volume was interrupted by 14:50's 5.1K $0.65. 14:55-15:06 had mostly low-volume and every trade $0.65. B/a at 15:02 was 600:8K $0.6499/$0.65, 15:08 700:8.1K $0.6452/$0.65 (bids jittering up/down 1/100th cent). The period ended on 15:10's 200 $0.6499.
15:11-15:52, after six no-trades minutes, began extremely low/no-volume $0.6463/$0.65 on 15:17's 800 $0.6464/3. B/a at 15:17 was 700:8.2K $0.6451/$0.65 (bids jittering up/down several 100ths of a cent), 15:39 1.6K:12K $0.6450/$0.65, 15:48 1.5K:600 $0.6450/99. The period ended on 15:52's 100 $0.6495.
15:53-16:00, after two no-trades minutes, began medium-volume $0.64/$0.65 on 15:55's 2.5K $0.65/$0.6450 (1.5K)/$0.6475. B/a at 15:58 was 1.5K:500 $0.6417/50, 15:59 4K:500 $0.6400/99. The period and day ended on 15:59's 1K $0.65 (800)/$0.6498/50 and 16:00's 596 sell for $0.65.
There were no AH trades.
Excluding the opening and closing trades (didn't qualify), there were 11 larger trades (>=5K & 4 4K+) totaling 61,700, 23.25% of day's volume, with a $0.6560 VWAP. Count and percentage of days volume seem in the normal range - well the percentage might be a wee bit low - and the VWAP is slightly lower than the day's $0.6575. Although there may have been some astute traders (day most likely?) and/or retail investors taking these larger trades, I do suspect most was MMs/shorters covering based on the intra-day behavior (typical early go high and then drop big as described above).
The two hour plus period ended at 15:10 took only ~1/7th of day's volume and was extremely flat (look at high and low) but still managed to jack up buy percentage in spite of aggregate extremely low volume and narrow price range. This stinks of MMs doing their thing and covering the naked shorts they sold in the early high-price, higher-volume part of the day (check the lows, highs, VWAPs, and buy percentages).
On the traditional TA front, movements were:
On my minimal chart, we broke the trend of trading completely below the short-term descending resistance (descending orange line), ~$0.67ish, as today's early highs moved above it. But it never approached the line again after 12:06. So about 79% of day's volume was below the line.
Price is again not "pushing" the lower experimental 13-period Bollinger band limit but the low moved toward it a bit.
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 $0.0367 (was $0.0405). This is the fourth consecutive contraction of the gap, again due to the fast EMA's descent rate slowing. The rate of descent for the slow EMA has began to slow, only marginally thus far, today.
Our high hit the slow EMA, $0.6889, today. If we get above it and some days later that's followed by a cross of the fast EMA above the slow we should have a good bullish signal.
Our low couldn't hold $0.65 again, hitting $0.64 today, but we had a higher high and volume up ~30.4%.
The open and close were flat, giving us a doji, supposedly a sign of indecision. With out volume and history of price behavior, trend lines, lack of faith in management, ... not at all surprising. <ore significantly, IMO, it's just a result of the manipulation seen intra-day.
In aggregate, this chart gives us conflicting signals, in the form of lower low and higher high. The latter would be a sign of my "mild bullish bias" while the former would argue against that. With the early 3 hours spending time in the upper range I would lean towards the positive interpretation. But the vast majority of the day's volume was down at the $0.649x/$0.65 area.
In aggregate, it doesn't contradict the "entering short-term consolidation" yet, nor the possible reversal to make a leg up within that consolidation.
I do reduce my confidence level in the up leg though, due to the lower low and volume spent near the day's low intra-day, and would again hesitate to push more chips in just yet.
On my one-year chart, we broke the eleven consecutive days trend of trading completely below all SMAs, all of which are falling with them all in order, 10 < 20 < 50 < 200. Our high penetrated the falling 10-day SMA's $0.6733 but that bright spot was dimmed by the close at $0.65, which means we'll still be dragging that SMA lower, along with the others. At current price level we have many more days of all the SMAs falling, so I guess we'll eventually get above the 10 just by dint of that fact.
Yesterday the oscillators I watch had weakening in RSI (still oversold), accumulation/distribution, Williams %R (still oversold), and ADX-related (again in aggregate nearer flattish though). Improvement occurred in MFI (still oversold and untrusted by me), momentum, and full stochastic (exited oversold).
Today had weakening in accumulation/distribution, momentum, full stochastic, and ADX-related. Improvement occurred in MFI (still oversold and untrusted by me), Williams %R (still oversold). RSI was flat (still oversold). Everything is below neutral.
The experimental 13-period Bollinger limits, $0.6159 and $0.7614 ($0.6164 and $0.7799 yesterday), stopped diverging as the lower limit has begun to flatten while the upper limit has an accelerating decline. The mid-point is falling.
All in, the oscillator mix continues more on the weakening side suggesting the conventional TA is still more bearish, and the intra-day behavior, with the buy percentage discounted, supports that. I think still entering short-term consolidation, based on this stuff, with the mild positive bias somewhat weaker than I would like. I may just be too impatient though.
Percentages for daily short sales and buys moved in opposite directions, not a good thing, but the short percentage is just below my desired range, not all that bad, and the buy percentage is where we would expect strong near-term price improvement.. But note that I discounted today's buy percentage above due to the incongruities that existed between it's and VWAP's behavior and the nasty dichotomy in the early price/volume behavior vs. that subsequent to 12:06ish.
The spread expanded and suggests near-term movement is likely. I don't think it gives a hint for direction if I don't make the adjustment to the buy percentage I mentioned. With that adjustment, I'm suspecting the spread is suggesting lower, especially in light of today's weaker VWAP.
The VWAP's rolling average of the last twenty-four movements, after holding for two days at 16 negatives and 8 positives, deteriorated to 17 and 7 respectively. Change since 04/10 is -$0.1539, -18.97%, and the averages of the rolling 24-day period seen in the last few days (latest first) are now -0.8459%, -0.6735%, -0.6459%, -0.7513%, -0.5928%, -0.6491%, -0.4703%, -0.5319%, -0.4198%, and -0.2739%.
All in, the lower short percentage and the adjusted buy percentage dominate my thinking here, along with the observed intra-day behavior. This leaves me still in the camp of entering short-term consolidation with a bit less-certain mild bullish bias.
Bill
Today was a classic scalp by the professionals of the unwary IMO. Open high, go higher, hold it up there for a while, drop a bit, hold it there for a while, and all with good volume. Then around 12:06 go near the day's low and trade a long flattish $0.6499/$0.65 (give or take a few hundredths of a penny) for almost the rest of the day.
During all this the buy percentage was looking really quite decent. But VWAP was not responding to the apparent buying. That's when I strongly suspected we were being had.
There were no pre-market trades.
B/a just before open was 100:400 $0.64/$0.70.
09:30-09:58 opened the day with a 3,048 sell for $0.65 & $0.67 x 100. B/a just after open was 300:900 $0.6501/$0.67. Then came 9:33-38 all doing 200 $0.67. Then came 9:36's b/a 300:300 $0.6501/$0.67, 9:39's 400 $0.6501 (100)/$0.67, 9:40's 100 $0.68, 9:41's 500 $0.68/$0.6501 (100)/$0.68, 9:42's 100 $0.68, 9:42's b/a 400:2K $0.6501/$0.6899, 9:43's 200 $0.6899/$0.67, 9:44's 200 $0.6899, 9:45's 100 $0.6899, 9:46's 300 $0.6899, 9:47's 300 $0.67/8, 9:48's 200 $0.6899, 9:49's 200 $0.6640/$0.6899. 9:50-:55 all traded 100-200 $0.6899. B/a at 9:52 was 500:785 $0.6501/$0.6899. Then came 9:56's 100 $0.67, 9:57's b/a 1.4K:10.8K $0.67/9, 9:57's 450 $0.67/9/8/9, and the period ended on 9:58's 100 $0.69.
9:59-10:45 did an extremely low/no-volume small step lower on 9:59-10:03's 500 $0.68/9 and 10:05's 900 $0.68 (700)/$0.6727/68 and then began very low-volume $0.6775/99, doing a very slow and small rise. B/a at 10:02 was 1.3K:500 $0.6707/$0.68 (bids rising). By 10:21 range was $0.6799/$0.68. Volume was interrupted by 10:30's 6.2K $0.6799. B/a at 10:32 was 2.6K:300 $0.6799/$0.68. The period ended on 10:45's 900 $0.6799/$0.68.
10:46-10:57 had b/a at 10:47 of 200:10.7K $0.6799/$0.68. After two no-trades minutes, trade began extremely low/no-volume $0.6701/$0.6798 on 10:48's 1.1K $0.6799 (800)/01. B/a at 10:51 was 500:400 $0.6701/98. The period ended on 10:57's 2.3K $0.6798 (2K)/$0.6701.
10:58-11:39 did a 2 cent drop on 10:58's 10.4K $0.6701/0 (3.4k)/1 (5.7K)/0/$0.6501 (200) and began [very] low-volume $0.6501/$0.67 with very slowly rising lows and highs. B/a at 11:02 was 300:923 $0.6501/$0.67, 11:17 200:300 $0.6501/$0.67, 11:32 400:100 $0.6511/$0.67. The period ended on 11:39's 100 $0.6808.
11:40-12:10 began very low-volume $0.6511/$0.6744, with slowly rising lows and less-slowly falling highs on 11:40's 11.2K $0.6608/$0.6705/$0.68 (9.7K, 2 lrg trds)/$0.6530/11/13/ ... $0.6656/$0.6514/11. B/a at 11:44 was 200:200 $0.6511/$0.6770, 12:02 200:300 $0.6516/$0.6740. The period ended on 12:10's 200 $0.6551/$0.6646.
12:11-12:24 begin a rapid high->low->high-volume drop on 12:11's 24.5K $0.6646/$0.6551/50/17/10/01/00 (18.1K)/$0.6499. B/a at 12:17 was 3.7K:34.1K $0.6446/$0.65. The drop hit 12:21's 11.1K $0.6478/58/6420 (10K blk) and ended on 12:24's 2K $0.6419 (1K)/15/17. It turns out this drop invoked a buying spree - see below.
12:25-12:53 did a low->high-volume bump up on 12:25-:27's 4.6K $0.6420/19/20 and 12:29's 18.9K $0.6420 (15.6K)/$0.65 (3.3K). B/a at 12:30 was 3.1K:4.4K $0.6499/$0.65. That began a mixed-volume rise from $0.6499/$0.65. 12:40's 4.6K hit $0.65/6 (1.8K). B/a at 12:44 was 200:200 $0.6550/$0.6699. 12:49's 5.3K hit $0.6550/$0.6697/$0.6501/2 (OHLC). The period ended on 12:53's 32.2K $0.6620/90/$0.65/$0.65 (OHLC).
12:54-15:10 began extremely low/no-volume $0.6499/$0.6501 on 12:54's 1.1K $0.6501 (1K)/00. B/a at 13:02 was 100:11.3K $0.6499/$0.65. Almost all minutes, but for a few with 0 trades, 13:10-:21 were 100 shares $0.65. B/a at 13:17 was 700:11.3K $0.6499/$0.65. Volume was interrupted by 13:22's 8.6K $0.65 (100)/$0.6499 (8.5K blk). B/a at 13:24 was 800:10.9K $0.6499/$0.65, 13:32 700:12K $0.6499/$0.65. Volume was interrupted by 13:43's 5.4K $0.65. B/a at 13:47 was 1.2K:11K $0.6499/$0.65, 14:02 1.2K:11.3K $0.6499/$0.65. All trades 14:05-14:49, but for 14:23's 1K, were 100-300 (mostly 100, 200) share minutes at $0.65! B/a at 14:18 was 1K:10.6K $0.6499/$0.65, 14:32 1.2K:10.4K $0.6499/$0.65, 14:49 500:8.5K $0.6499/$0.65. Volume was interrupted by 14:50's 5.1K $0.65. 14:55-15:06 had mostly low-volume and every trade $0.65. B/a at 15:02 was 600:8K $0.6499/$0.65, 15:08 700:8.1K $0.6452/$0.65 (bids jittering up/down 1/100th cent). The period ended on 15:10's 200 $0.6499.
15:11-15:52, after six no-trades minutes, began extremely low/no-volume $0.6463/$0.65 on 15:17's 800 $0.6464/3. B/a at 15:17 was 700:8.2K $0.6451/$0.65 (bids jittering up/down several 100ths of a cent), 15:39 1.6K:12K $0.6450/$0.65, 15:48 1.5K:600 $0.6450/99. The period ended on 15:52's 100 $0.6495.
15:53-16:00, after two no-trades minutes, began medium-volume $0.64/$0.65 on 15:55's 2.5K $0.65/$0.6450 (1.5K)/$0.6475. B/a at 15:58 was 1.5K:500 $0.6417/50, 15:59 4K:500 $0.6400/99. The period and day ended on 15:59's 1K $0.65 (800)/$0.6498/50 and 16:00's 596 sell for $0.65.
There were no AH trades.
Excluding the opening and closing trades (didn't qualify), there were 11 larger trades (>=5K & 4 4K+) totaling 61,700, 23.25% of day's volume, with a $0.6560 VWAP. Count and percentage of days volume seem in the normal range - well the percentage might be a wee bit low - and the VWAP is slightly lower than the day's $0.6575. Although there may have been some astute traders (day most likely?) and/or retail investors taking these larger trades, I do suspect most was MMs/shorters covering based on the intra-day behavior (typical early go high and then drop big as described above).
The lack of strong movement correlation between buy percentage and VWAP makes me think MMs et al were taking advantage of market weakness and uncertainty to accomplish their goals. This leads me to think of discounting the continued improvement in the buy percentage (three days now).
Ending Period Period Period __Per. Trade_ Period_ % Day_ Per. End
Period Volume Low High _Dollar Val._ VWAP___ Volume Buy ~%
09:58 9248 $0.6500 $0.6900 $6,191.52 $0.6695 3.48% 56.70%
10:45 23801 $0.6727 $0.6900 $16,180.43 $0.6798 8.97% 39.71% Incl 10:30 $0.6799 4,400 11:40 $0.6800 5,700
11:40 $0.6800 4,000
10:57 4700 $0.6701 $0.6799 $3,179.11 $0.6764 1.77% 39.96%
11:39 21590 $0.6501 $0.6705 $14,335.56 $0.6640 8.14% 34.31%
12:10 20300 $0.6511 $0.6800 $13,593.48 $0.6696 7.65% 42.57%
12:24 38686 $0.6415 $0.6646 $25,058.52 $0.6477 14.58% 57.73% Incl 12:11 $0.6500 5,000 12:21 $0.6420 10,000
12:53 84214 $0.6419 $0.6697 $55,157.35 $0.6550 31.73% 60.79% Incl 12:29 $0.6420 5,000 5,000
12:34 $0.6499 4,500 12:53 $0.6690 5,600
15:10 45375 $0.6499 $0.6501 $29,492.74 $0.6500 17.10% 63.26% Incl 13:22 $0.6499 8,500 13:48 $0.6500 4,000
15:52 5765 $0.6463 $0.6500 $3,741.46 $0.6490 2.17% 63.05%
16:00 9754 $0.6400 $0.6500 $6,281.10 $0.6440 3.68% 62.88%
The two hour plus period ended at 15:10 took only ~1/7th of day's volume and was extremely flat (look at high and low) but still managed to jack up buy percentage in spite of aggregate extremely low volume and narrow price range. This stinks of MMs doing their thing and covering the naked shorts they sold in the early high-price, higher-volume part of the day (check the lows, highs, VWAPs, and buy percentages).
On the traditional TA front, movements were:
Considering the open and low, the end result looks more positive than I would have anticipated. The high managed a small gain and the close was flat on rising volume. However the open and close both being $0.65 with a very high high causes some concerns, discussed below. For this stuff I have to settle on neutral because of the conflict between the movements of open/low and high with a flat close. If I hadn't watched intra-day I would think these aren't too bad, just reflecting indecision. Since I did watch I think they show the results of manipulation.__Open_ ___Low_ __High_ _Close_ Volume_
Today -1.52% -1.54% 1.47% 0.00% 30.42%
Prior 0.00% 0.00% -1.45% -0.26% 3.11%
On my minimal chart, we broke the trend of trading completely below the short-term descending resistance (descending orange line), ~$0.67ish, as today's early highs moved above it. But it never approached the line again after 12:06. So about 79% of day's volume was below the line.
Price is again not "pushing" the lower experimental 13-period Bollinger band limit but the low moved toward it a bit.
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 $0.0367 (was $0.0405). This is the fourth consecutive contraction of the gap, again due to the fast EMA's descent rate slowing. The rate of descent for the slow EMA has began to slow, only marginally thus far, today.
Our high hit the slow EMA, $0.6889, today. If we get above it and some days later that's followed by a cross of the fast EMA above the slow we should have a good bullish signal.
Our low couldn't hold $0.65 again, hitting $0.64 today, but we had a higher high and volume up ~30.4%.
The open and close were flat, giving us a doji, supposedly a sign of indecision. With out volume and history of price behavior, trend lines, lack of faith in management, ... not at all surprising. <ore significantly, IMO, it's just a result of the manipulation seen intra-day.
In aggregate, this chart gives us conflicting signals, in the form of lower low and higher high. The latter would be a sign of my "mild bullish bias" while the former would argue against that. With the early 3 hours spending time in the upper range I would lean towards the positive interpretation. But the vast majority of the day's volume was down at the $0.649x/$0.65 area.
In aggregate, it doesn't contradict the "entering short-term consolidation" yet, nor the possible reversal to make a leg up within that consolidation.
I do reduce my confidence level in the up leg though, due to the lower low and volume spent near the day's low intra-day, and would again hesitate to push more chips in just yet.
On my one-year chart, we broke the eleven consecutive days trend of trading completely below all SMAs, all of which are falling with them all in order, 10 < 20 < 50 < 200. Our high penetrated the falling 10-day SMA's $0.6733 but that bright spot was dimmed by the close at $0.65, which means we'll still be dragging that SMA lower, along with the others. At current price level we have many more days of all the SMAs falling, so I guess we'll eventually get above the 10 just by dint of that fact.
Yesterday the oscillators I watch had weakening in RSI (still oversold), accumulation/distribution, Williams %R (still oversold), and ADX-related (again in aggregate nearer flattish though). Improvement occurred in MFI (still oversold and untrusted by me), momentum, and full stochastic (exited oversold).
Today had weakening in accumulation/distribution, momentum, full stochastic, and ADX-related. Improvement occurred in MFI (still oversold and untrusted by me), Williams %R (still oversold). RSI was flat (still oversold). Everything is below neutral.
The experimental 13-period Bollinger limits, $0.6159 and $0.7614 ($0.6164 and $0.7799 yesterday), stopped diverging as the lower limit has begun to flatten while the upper limit has an accelerating decline. The mid-point is falling.
All in, the oscillator mix continues more on the weakening side suggesting the conventional TA is still more bearish, and the intra-day behavior, with the buy percentage discounted, supports that. I think still entering short-term consolidation, based on this stuff, with the mild positive bias somewhat weaker than I would like. I may just be too impatient though.
Percentages for daily short sales and buys moved in opposite directions, not a good thing, but the short percentage is just below my desired range, not all that bad, and the buy percentage is where we would expect strong near-term price improvement.. But note that I discounted today's buy percentage above due to the incongruities that existed between it's and VWAP's behavior and the nasty dichotomy in the early price/volume behavior vs. that subsequent to 12:06ish.
The spread expanded and suggests near-term movement is likely. I don't think it gives a hint for direction if I don't make the adjustment to the buy percentage I mentioned. With that adjustment, I'm suspecting the spread is suggesting lower, especially in light of today's weaker VWAP.
The VWAP's rolling average of the last twenty-four movements, after holding for two days at 16 negatives and 8 positives, deteriorated to 17 and 7 respectively. Change since 04/10 is -$0.1539, -18.97%, and the averages of the rolling 24-day period seen in the last few days (latest first) are now -0.8459%, -0.6735%, -0.6459%, -0.7513%, -0.5928%, -0.6491%, -0.4703%, -0.5319%, -0.4198%, and -0.2739%.
All in, the lower short percentage and the adjusted buy percentage dominate my thinking here, along with the observed intra-day behavior. This leaves me still in the camp of entering short-term consolidation with a bit less-certain mild bullish bias.
Bill
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