InvestorsHub Logo

xZx

Followers 1268
Posts 80968
Boards Moderated 4
Alias Born 02/17/2005

xZx

Re: ufgtrs1 post# 35715

Tuesday, 10/06/2009 5:56:26 PM

Tuesday, October 06, 2009 5:56:26 PM

Post# of 375420
ufgtrs1, i agree. if the dip wasn't being bought i would be concerned, as that would mean bidders were getting out of the way and letting it trend lower on fewer and fewer trades. in fact, based on the tape today, we see just the opposite -- buyers stepping up aggressively on the bid.

i think we're approaching capitulation where a lot of retailers may sell the bottom, only to have these MMs clear all those orders off the ask and run it higher.

case in point is what happened on the dip to .01 in early august. in a matter of minutes L2 changed completely. all the selling pressure on the ask went over to the bid side, they started pushing, and up we went.

i've got to think these multiple million share orders are being bought for a reason. big $$ wants to make $$$ imo.