AI
| Followers | 11 |
| Posts | 578 |
| Boards Moderated | 0 |
| Alias Born | 05/12/2006 |
Wednesday, April 11, 2007 12:50:24 PM
Hi qas - I guess I don't quite see this the same as you do, because the 'final candle' for today (or any day for that matter in a pink sheet stock such as this) is often completely determined by painters at the EOD ...
For example, the trades yesterday at 0.008 and 0.006 were mainly hoaxes
, there was almost no volume at either price, so the final candle was MUCH longer at both ends than it should have been.
Similarly, today, we could trade no lower than 0.006 all day until 15:59:55, and then some MM can sneak in with a totally fake cross-the-floor trade at 0.0055 at the bell, resulting in a final (fake!) candle that will look technically disasterous - when it was really a solid support day for longs (50 or 60 million at 0.006 or higher!)
I need to see big volumes at both ends of the EOD candle, or else I don't take the shape of the candle too seriously - whethetr it's a doji, a MA-piercement, or otherwise
GLTY and thanks again
Opp
For example, the trades yesterday at 0.008 and 0.006 were mainly hoaxes
, there was almost no volume at either price, so the final candle was MUCH longer at both ends than it should have been. Similarly, today, we could trade no lower than 0.006 all day until 15:59:55, and then some MM can sneak in with a totally fake cross-the-floor trade at 0.0055 at the bell, resulting in a final (fake!) candle that will look technically disasterous - when it was really a solid support day for longs (50 or 60 million at 0.006 or higher!)
I need to see big volumes at both ends of the EOD candle, or else I don't take the shape of the candle too seriously - whethetr it's a doji, a MA-piercement, or otherwise
GLTY and thanks again
Opp
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