Monday, October 10, 2011 4:30:03 PM
people are getting impatient, and dumping when the overall market is doing good, thinking "why is my money tied up stagnant here, when i can be making money somewhere else?" so they cut losses in hopes of getting it back somewhere else.
mms are waiting for them.
This is why Patience is a virtue.
notice NITE sitting on bid and ask? CSTI is doing the same now after hours, this is so if an impatient seller comes along, and sells, it takes out share counts on the bid and adds them to the ask. investors see the price drop/selling and buy on the ask thinking they are getting a good deal, the MMs make money almost immediately by doing this. this is how they get paid.
when real news comes along, you will know it, the volume will be real. there will be 10million shares bought/sold in a day or more!, not 500k like the past week. 500k is about the average for the day, MM's are tricky and sink/drop the volume by 75% to 100-200k per day, keep it there for a week or 2, and then trick you by making you think 500-600k is big volume.
I got three words for everybody.
PATIENCE, PATIENCE, PATIENCE!!!
edit: thanks for the sp correction ziggy, i do work in a hospital!
IMHO
-X
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