Thursday, May 18, 2017 9:27:23 AM
Buy:sell, daily shorts & pps 05/16 2017 EOD
I'm now switching from "mild bullish bias" within continued short-term consolidation to a negative bias, degree uncertain.
Today was a typical manipulated early open high, drop big, hitting the low around 11:15, and go flattish a couple pennies off the low until the last hour's volatility open the range and closed ~1 penny off the low.
There were no pre-market trades.
B/a just before open was 100:1.5K $0.6401/$0.70.
09:30-10:02 opened the day with a 4,200 buy for $0.69 & $0.69 x 8.5K. B/a just after open was 61:13.5K $0.6825/$0.69. Then came 9:33's b/a 404:250 $0.65/$0.6850, 9:34's 100 $0.6850, 9:35's 1.5K $0.6508, 9:36's b/a 404:250 $0.6500/8, 9:37's 350 $0.6507/8, 9:38's 100 $0.6797, 9:40's b/a 253:500 $0.6508/$0.68, 9:42's 100 $0.6797, 9:45's 10.7K $0.6799 (2,3K)/$0.68 (500)/$0.6799 (7.7K)/$0.6801 (150), 9:46's 100 $0.6797, 9:51's b/a 253:1.1K $0.66/8, 9:56's 100 $0.68, 9:59's b/a 1.4K:1K $0.66/8, 10:00's 100 $0.68, and the period ended on 10:02's 2.2K $0.6633 (1.5K)/00 (500)/$0.68.
10:03-10:43 began, through 10:20, extremely low/no-volume $0.6798/$0.68 on 10:03's 100 $0.68. B/a at 10:17was 10.2K:5.7K $0.6700/99. 10:21's 10.2K did $0.6799 (100)/$0.67 to begin extremely low/no-volume $0.6652/$0.68. Volume was interrupted by 10:30's 6.2K $0.6799 (4.1K)/$0.68/$0.6655/$0.6726/$0.6652/$0.6726/$0.6652 (500). The period ended on 10:43's 125 $0.6652.
10:44-11:42 began mostly low/high-volume $0.6601/$0.68, through 10:49, on 10:44's 13.5K $0.6699/$0.67 (8.2K)/$0.66/7/8/6/7/6/7. B/a at 10:49 was 800:23 $0.6601/$0.67 (offers backed by presented 4.6K $0.68). After 10:50's 11.5K, trade became extremely low/no-volume $0.6601/$0.68 with slowly rising lows. B/a at 11:02 was 700:21 $0.6601/$0.67 (offers backed by presented 4.6K $0.68). Volume was interrupted by 11:02's 10.7K $0.6700/50/$0.68/$0.67 (7.2K)/50/$0.68/$0.6603 (2K). B/a at 11:07 was 200:3.8K $0.6605/$0.68, 11:28 200:3.9K $0.6606/$0.6. The period ended on 11:42's 200 $0.6609/$0.6703.
11:43-12:04, after one no-trades minute, did 11:44's 10.8K $0.6606/5 (1.6K)/0/6 (~800)/13/$0.66/02/03/05/00/12/$0.65 (6K)/6, 11:45's 200 $0.65/$0.6601, 11:47's 24K $0.66/$0.6502/54/00 (23.4K incl 20.8K blk)/$0.66, 11:47's b/a 700:300 $0.6421/$0.66 and 11:48's 300 $0.6599/6. There were no trades 11:49-:59. B/a at 11:59 was 100:2K $0.6500/99. 12:00 did 100 $0.65, 12:02 100 $0.6499, and the period ended on 12:03's 5.1K $0.6499/$0.65 and 12:04's 2.1K $0.6499 (1.9K)/$0.65.
12:05-14:35, after one no-trades minute, began extremely low/no-volume $0.6610/60 ($0.67 x 650 at 12:35) after 12:06's 20.6K $0.6610/25/01/00 (20.1K incl 20K blk)/$0.6670. B/a at 12:09 was 100:100 $0.6550/$0.67, 12:35 100:100 $0.6550/$0.67, 12:47 200:100 $0.6550/$0.67. Price and volume were interrupted by 12:56's 1.9K $0.66/7 (200)/6 and range became $0.6600/99. B/a at 13:02 was 2K:2.3K $0.6600/99. Volume was interrupted by 13:18's 11.5K $0.6699 (8.8K)/$0.6600/50/00 (1.7K). B/a at 13:19 was 1.7K:2.1K $0.6650/$0.67, 13:32 2.5K:3.6K $0.6693/$0.67. Volume was interrupted by 13:32's 3.5K $0.6674/50/74/50/74/98/97/99. B/a at 13:36 was 300:1.1K $0.6698/9, 13:50 300:1.4K $0.6698/9, 14:02 200:1.6K $0.6698/9, 14:17 200:1.1K $0.6698/9, 14:32 200:600 $0.6698/9. The period ended on 14:35's 500 $0.6698/99.
14:36-15:10, began extremely low/no-volume $0.65/6 on 14:36's 15.6K $0.6698/50/98/99/00 (13.1K)/49. B/a at 14:52 was 3K:600 $0.6500/99, 15:02 3K:100 $0.6500/99. The period ended on 15:10's 181 $0.66.
15:11-16:00, after doing 15:23's 22.5K $0.66 (5.4K)/7 (400)/$0.6600 (100)/50/$0.67/6 (2.1K)/7/6 (6.9K) 15:18 3.1K:200 $0.65/6 and 15:27's 6.2K $0.6599/$0.66/7/6 (1.9K)/50/00/50/00, began extremely low/no-volume $0.6599/$0.67. B/a at 15:48 was 199:535 $0.66/7. Volume was interrupted by 15:52's 7.5K $0.67 (5K)/$0.6650/$0.67/$0.6600 (1.7K)//50/00 an 15:54's 13.5K $0.6600 (11.6K incl 10.5K blk)/50/00/50/00/50/00. B/a at 15:54 was 3.6K:2.5K $0.65/6. The period and day ended on 15:58's 200 buy for $0.66 (and 21 more in odd-lots $0.6500/1/$0.66), the official close being $0.66 because the 15:59-16:00 trades were all odd-lots totaling 13 @ $0.66).
There were no AH trades.
Including the opening trade (closing didn't qualify), there were 21 larger trades (>=5K & 4 4K+) totaling 170,768, 59.75% of day's volume, with a $0.6648 VWAP. Excluding the opening trade, there were 20 larger trades totaling 166,568, 58.28% of day's volume, with a $0.6641 VWAP. For the volume, the count seems on the high side. The percentage of day's volume is exceptionally high. The VWAPs are essentially right at the day's $0.6641. Looking at the intra-day buy percentage and VWAP behavior, I suspect ATM use again and would think MMs and shorters took most of the volume. As mentioned I thought we were being scalped, in this case by the ATM would be my best guess.
Buy percentage returned to the old sucky ranges as those in the know took advantage of the early high prices and others likely covered at the low prices.
At least today there was a bit better correlation between movements in buy percentage and VWAP.
The above, all by itself, is enough to make me get negative.
On the traditional TA front, movements were:
On my minimal chart, we again saw the high get above the short-term descending resistance (descending orange line), ~$0.67ish, as today's opening minute high moved above it. Price held in there reasonably well ($0.669) through 9:50 but it then dropped and never approached the line again.
As with the last week, price was again not "pushing" the lower experimental 13-period Bollinger band limit but the low again moved toward it a bit.
The slow EMA continued to decline with the fast below the slow. The fast EMA made a tick up, thanks to the marginally higher (and manipulated IMO) close. The gap from the slow down to the fast is now $0.0291 (was $0.0367). This is the fifth consecutive contraction of the gap. The rate of descent for the slow EMA continues to slow marginally.
The high again hit the slow EMA, $0.6851, today. However I think the high was one of our typical early manipulations and we really can't believe what we see. Regardless, 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.
For the second day the low couldn't hold $0.65 again, but almost did as it bottomed at $0.6499 today. We also had a higher (manipulated) high and volume up 7.7% (down from yesterday's ~30.4%). The decline in rate of rise in the volume suggests the manipulations are having less effect in the upward direction.
Yesterday the open and close were flat, giving us a doji, supposedly a sign of indecision. With today's higher (manipulated) high but a lower close, as usual, it looks like resolution of the indecision is in the negative direction.
Visually, looking at the highs over the last seven days, and the lows, it's obvious we are solidly in the short-term consolidation I've been saying we were entering. The question now becomes how long will we remain there and will we ever get an up leg which should come about if we are still in a medium-term consolidation too.
Yesterday I ended this section with { 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. } I currently have no clue if we'll get this while still in a medium-term, or even long-term, consolidation. Any kind of positive outlook would cause a belief that it will occur someday.
On my one-year chart, yesterday we broke the eleven consecutive days trend of trading completely below all SMAs, all of which were falling with them all in order, 10 < 20 < 50 < 200. Our high penetrated the falling 10-day SMA's $0.6733 and I noted { 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. } Today started the "get above" process with the (manipulated) high again above the 10-day's, $0.6675, but the close was still about 1.75 cents below. With no non-manipulated suggestion of a higher close on the near-term horizon, I think the cross will come as the 10-day drops while the close remains relatively steady due to manipulation.
Yesterday the oscillators I watch 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 was still below neutral.
Today had weakening only in accumulation/distribution and ADX-related. Improvement occurred in RSI (squeaked out of oversold), MFI (untrusted by me and still barely above oversold), momentum, Williams %R (exited oversold) and full stochastic. Everything is still below neutral.
The experimental 13-period Bollinger limits, $0.6198 and $0.7421 ($0.6159 and $0.7614 yesterday), is converging as the lower limit has begun to rise while the upper limit declines. The mid-point is falling due to the upper limit's rate of decline being higher than the lower limit's rate of rise.
All in, my intra-day breakdown stuff, intra-day observations and TFH make me discount everything I see on the charts and in the conventional metrics. I wanted to mention that because I remain believing consolidation is what we will continue to see with, now, less positive bias, in spite of the more positive conventional chart components' indications of turning to a more bullish likelihood. This is also heavily influenced by my belief the price is being manipulated, likely to allow continued ATM use.
I just wanted to make that clear so readers can decide how much weight to give my thoughts.
Percentages for daily short sales and buys moved moved in the same direction, good and down, but the short percentage really should be viewed as flat. The buy percentage behaved as expected, which I forecast over the last couple days because the VWAP and buy percentages were discordant. That was the primary reason I believe the ATM is in use.
The spread contracted a bit in spite of the manipulated highs. Given the belief in manipulation occurring I have to think this is not suggesting a move, but rather suggesting consolidation if we could determine a "real" high, maybe $0.66ish today rather than the seen $0.69.
The VWAP's rolling average of the last twenty-four movements held for for the second day at 17 negatives and 7 positives. Change since 04/11 is -$0.1814, -21.45%, and the averages of the rolling 24-day period seen in the last few days (latest first) are now -0.9789%, -0.8459%, -0.6735%, -0.6459%, -0.7513%, -0.5928%, -0.6491%, -0.4703%, -0.5319%, and -0.4198%.
All in, continued near-term consolidation seems most likely with a reduced likelihood of a mild bullish bias. In fact, today I'm leaning towards a negative bias.
Bill
I'm now switching from "mild bullish bias" within continued short-term consolidation to a negative bias, degree uncertain.
Today was a typical manipulated early open high, drop big, hitting the low around 11:15, and go flattish a couple pennies off the low until the last hour's volatility open the range and closed ~1 penny off the low.
There were no pre-market trades.
B/a just before open was 100:1.5K $0.6401/$0.70.
09:30-10:02 opened the day with a 4,200 buy for $0.69 & $0.69 x 8.5K. B/a just after open was 61:13.5K $0.6825/$0.69. Then came 9:33's b/a 404:250 $0.65/$0.6850, 9:34's 100 $0.6850, 9:35's 1.5K $0.6508, 9:36's b/a 404:250 $0.6500/8, 9:37's 350 $0.6507/8, 9:38's 100 $0.6797, 9:40's b/a 253:500 $0.6508/$0.68, 9:42's 100 $0.6797, 9:45's 10.7K $0.6799 (2,3K)/$0.68 (500)/$0.6799 (7.7K)/$0.6801 (150), 9:46's 100 $0.6797, 9:51's b/a 253:1.1K $0.66/8, 9:56's 100 $0.68, 9:59's b/a 1.4K:1K $0.66/8, 10:00's 100 $0.68, and the period ended on 10:02's 2.2K $0.6633 (1.5K)/00 (500)/$0.68.
10:03-10:43 began, through 10:20, extremely low/no-volume $0.6798/$0.68 on 10:03's 100 $0.68. B/a at 10:17was 10.2K:5.7K $0.6700/99. 10:21's 10.2K did $0.6799 (100)/$0.67 to begin extremely low/no-volume $0.6652/$0.68. Volume was interrupted by 10:30's 6.2K $0.6799 (4.1K)/$0.68/$0.6655/$0.6726/$0.6652/$0.6726/$0.6652 (500). The period ended on 10:43's 125 $0.6652.
10:44-11:42 began mostly low/high-volume $0.6601/$0.68, through 10:49, on 10:44's 13.5K $0.6699/$0.67 (8.2K)/$0.66/7/8/6/7/6/7. B/a at 10:49 was 800:23 $0.6601/$0.67 (offers backed by presented 4.6K $0.68). After 10:50's 11.5K, trade became extremely low/no-volume $0.6601/$0.68 with slowly rising lows. B/a at 11:02 was 700:21 $0.6601/$0.67 (offers backed by presented 4.6K $0.68). Volume was interrupted by 11:02's 10.7K $0.6700/50/$0.68/$0.67 (7.2K)/50/$0.68/$0.6603 (2K). B/a at 11:07 was 200:3.8K $0.6605/$0.68, 11:28 200:3.9K $0.6606/$0.6. The period ended on 11:42's 200 $0.6609/$0.6703.
11:43-12:04, after one no-trades minute, did 11:44's 10.8K $0.6606/5 (1.6K)/0/6 (~800)/13/$0.66/02/03/05/00/12/$0.65 (6K)/6, 11:45's 200 $0.65/$0.6601, 11:47's 24K $0.66/$0.6502/54/00 (23.4K incl 20.8K blk)/$0.66, 11:47's b/a 700:300 $0.6421/$0.66 and 11:48's 300 $0.6599/6. There were no trades 11:49-:59. B/a at 11:59 was 100:2K $0.6500/99. 12:00 did 100 $0.65, 12:02 100 $0.6499, and the period ended on 12:03's 5.1K $0.6499/$0.65 and 12:04's 2.1K $0.6499 (1.9K)/$0.65.
12:05-14:35, after one no-trades minute, began extremely low/no-volume $0.6610/60 ($0.67 x 650 at 12:35) after 12:06's 20.6K $0.6610/25/01/00 (20.1K incl 20K blk)/$0.6670. B/a at 12:09 was 100:100 $0.6550/$0.67, 12:35 100:100 $0.6550/$0.67, 12:47 200:100 $0.6550/$0.67. Price and volume were interrupted by 12:56's 1.9K $0.66/7 (200)/6 and range became $0.6600/99. B/a at 13:02 was 2K:2.3K $0.6600/99. Volume was interrupted by 13:18's 11.5K $0.6699 (8.8K)/$0.6600/50/00 (1.7K). B/a at 13:19 was 1.7K:2.1K $0.6650/$0.67, 13:32 2.5K:3.6K $0.6693/$0.67. Volume was interrupted by 13:32's 3.5K $0.6674/50/74/50/74/98/97/99. B/a at 13:36 was 300:1.1K $0.6698/9, 13:50 300:1.4K $0.6698/9, 14:02 200:1.6K $0.6698/9, 14:17 200:1.1K $0.6698/9, 14:32 200:600 $0.6698/9. The period ended on 14:35's 500 $0.6698/99.
14:36-15:10, began extremely low/no-volume $0.65/6 on 14:36's 15.6K $0.6698/50/98/99/00 (13.1K)/49. B/a at 14:52 was 3K:600 $0.6500/99, 15:02 3K:100 $0.6500/99. The period ended on 15:10's 181 $0.66.
15:11-16:00, after doing 15:23's 22.5K $0.66 (5.4K)/7 (400)/$0.6600 (100)/50/$0.67/6 (2.1K)/7/6 (6.9K) 15:18 3.1K:200 $0.65/6 and 15:27's 6.2K $0.6599/$0.66/7/6 (1.9K)/50/00/50/00, began extremely low/no-volume $0.6599/$0.67. B/a at 15:48 was 199:535 $0.66/7. Volume was interrupted by 15:52's 7.5K $0.67 (5K)/$0.6650/$0.67/$0.6600 (1.7K)//50/00 an 15:54's 13.5K $0.6600 (11.6K incl 10.5K blk)/50/00/50/00/50/00. B/a at 15:54 was 3.6K:2.5K $0.65/6. The period and day ended on 15:58's 200 buy for $0.66 (and 21 more in odd-lots $0.6500/1/$0.66), the official close being $0.66 because the 15:59-16:00 trades were all odd-lots totaling 13 @ $0.66).
There were no AH trades.
Including the opening trade (closing didn't qualify), there were 21 larger trades (>=5K & 4 4K+) totaling 170,768, 59.75% of day's volume, with a $0.6648 VWAP. Excluding the opening trade, there were 20 larger trades totaling 166,568, 58.28% of day's volume, with a $0.6641 VWAP. For the volume, the count seems on the high side. The percentage of day's volume is exceptionally high. The VWAPs are essentially right at the day's $0.6641. Looking at the intra-day buy percentage and VWAP behavior, I suspect ATM use again and would think MMs and shorters took most of the volume. As mentioned I thought we were being scalped, in this case by the ATM would be my best guess.
Buy percentage validated, I think, yesterday's { 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) } and also { 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. }Ending Period Period Period __Per. Trade_ Period_ % Day_ Per. End
Period Volume Low High _Dollar Val._ VWAP___ Volume Buy ~%
10:02 28120 $0.6507 $0.6900 $19,151.32 $0.6811 9.84% 91.60% Incl 09:30 $0.6900 4,200 8,500
09:45 $0.6799 7,700
10:43 17774 $0.6652 $0.6800 $11,955.73 $0.6727 6.22% 59.43% Incl 10:21 $0.6700 9,800 10:30 $0.6799 4,124
11:42 41717 $0.6600 $0.6800 $27,827.65 $0.6671 14.60% 35.91% Incl 10:44 $0.6700 7,575 10:50 $0.6621 8,248
11:02 $0.6700 6,979
12:04 42593 $0.6499 $0.6702 $27,738.68 $0.6512 14.90% 30.79% Incl 11:44 $0.6500 5,300 11:47 20,812
12:03 $0.6499 4,800
14:35 81345 $0.6600 $0.6700 $54,036.05 $0.6643 28.46% 32.85% Incl 12:06 $0.6600 19,956 12:58 6,504
13:18 $0.6699 8,800 14:22 6,000
14:29 $0.6699 5,000
15:10 17884 $0.6500 $0.6699 $11,809.86 $0.6604 6.26% 32.46% Incl 14:36 $0.6600 8,381
16:00 53423 $0.6501 $0.6700 $35,338.74 $0.6615 18.69% 30.19% Incl 15:23 $0.6600 6,985 5,646
15:52 $0.6700 5,000 15:54 $0.6600 10,458
Buy percentage returned to the old sucky ranges as those in the know took advantage of the early high prices and others likely covered at the low prices.
At least today there was a bit better correlation between movements in buy percentage and VWAP.
The above, all by itself, is enough to make me get negative.
On the traditional TA front, movements were:
Today's results support what I suspected yesterday: { 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. } Today supports, I think, that "I think they show the results of manipulation". Today's movements also support the several places, charts, my unconventional stuff, ... where I suspected "mild bullish bias" within entering a short-term consolidation.__Open_ ___Low_ __High_ _Close_ Volume_
Today 6.15% 1.55% 0.00% 1.54% 7.71%
Prior -1.52% -1.54% 1.47% 0.00% 30.42%
On my minimal chart, we again saw the high get above the short-term descending resistance (descending orange line), ~$0.67ish, as today's opening minute high moved above it. Price held in there reasonably well ($0.669) through 9:50 but it then dropped and never approached the line again.
As with the last week, price was again not "pushing" the lower experimental 13-period Bollinger band limit but the low again moved toward it a bit.
The slow EMA continued to decline with the fast below the slow. The fast EMA made a tick up, thanks to the marginally higher (and manipulated IMO) close. The gap from the slow down to the fast is now $0.0291 (was $0.0367). This is the fifth consecutive contraction of the gap. The rate of descent for the slow EMA continues to slow marginally.
The high again hit the slow EMA, $0.6851, today. However I think the high was one of our typical early manipulations and we really can't believe what we see. Regardless, 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.
For the second day the low couldn't hold $0.65 again, but almost did as it bottomed at $0.6499 today. We also had a higher (manipulated) high and volume up 7.7% (down from yesterday's ~30.4%). The decline in rate of rise in the volume suggests the manipulations are having less effect in the upward direction.
Yesterday the open and close were flat, giving us a doji, supposedly a sign of indecision. With today's higher (manipulated) high but a lower close, as usual, it looks like resolution of the indecision is in the negative direction.
Visually, looking at the highs over the last seven days, and the lows, it's obvious we are solidly in the short-term consolidation I've been saying we were entering. The question now becomes how long will we remain there and will we ever get an up leg which should come about if we are still in a medium-term consolidation too.
Yesterday I ended this section with { 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. } I currently have no clue if we'll get this while still in a medium-term, or even long-term, consolidation. Any kind of positive outlook would cause a belief that it will occur someday.
On my one-year chart, yesterday we broke the eleven consecutive days trend of trading completely below all SMAs, all of which were falling with them all in order, 10 < 20 < 50 < 200. Our high penetrated the falling 10-day SMA's $0.6733 and I noted { 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. } Today started the "get above" process with the (manipulated) high again above the 10-day's, $0.6675, but the close was still about 1.75 cents below. With no non-manipulated suggestion of a higher close on the near-term horizon, I think the cross will come as the 10-day drops while the close remains relatively steady due to manipulation.
Yesterday the oscillators I watch 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 was still below neutral.
Today had weakening only in accumulation/distribution and ADX-related. Improvement occurred in RSI (squeaked out of oversold), MFI (untrusted by me and still barely above oversold), momentum, Williams %R (exited oversold) and full stochastic. Everything is still below neutral.
The experimental 13-period Bollinger limits, $0.6198 and $0.7421 ($0.6159 and $0.7614 yesterday), is converging as the lower limit has begun to rise while the upper limit declines. The mid-point is falling due to the upper limit's rate of decline being higher than the lower limit's rate of rise.
All in, my intra-day breakdown stuff, intra-day observations and TFH make me discount everything I see on the charts and in the conventional metrics. I wanted to mention that because I remain believing consolidation is what we will continue to see with, now, less positive bias, in spite of the more positive conventional chart components' indications of turning to a more bullish likelihood. This is also heavily influenced by my belief the price is being manipulated, likely to allow continued ATM use.
I just wanted to make that clear so readers can decide how much weight to give my thoughts.
Percentages for daily short sales and buys moved moved in the same direction, good and down, but the short percentage really should be viewed as flat. The buy percentage behaved as expected, which I forecast over the last couple days because the VWAP and buy percentages were discordant. That was the primary reason I believe the ATM is in use.
The spread contracted a bit in spite of the manipulated highs. Given the belief in manipulation occurring I have to think this is not suggesting a move, but rather suggesting consolidation if we could determine a "real" high, maybe $0.66ish today rather than the seen $0.69.
The VWAP's rolling average of the last twenty-four movements held for for the second day at 17 negatives and 7 positives. Change since 04/11 is -$0.1814, -21.45%, and the averages of the rolling 24-day period seen in the last few days (latest first) are now -0.9789%, -0.8459%, -0.6735%, -0.6459%, -0.7513%, -0.5928%, -0.6491%, -0.4703%, -0.5319%, and -0.4198%.
All in, continued near-term consolidation seems most likely with a reduced likelihood of a mild bullish bias. In fact, today I'm leaning towards a negative bias.
Bill
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