World Surveillance Group Inc (fka WSGI)

[lowtrade]

OK I'll try to recap the day. Might want to print the chart below, so you can read and look at the chart.

Remember day traders want to buy early low as possible, then run it up and sell for profits. Swing traders want to get back in as low as possible on the retrace and M&Ms want to get as much volume as possible. Retail buys when it runs and sells when it dives. LOL

We'll use day traders as over 10k orders and swing traders at 3k, with retail 1k or lower.

The 1st 1/2 of rush hour, the day traders took it down from $3.14 to $3.01, last daily support level, Swings getting some. Guess who sold.

The second half of rush hour the specialist took over at $3.01 after a bottom CAP signal and ran it up $3.10, daily pivot point, to get some day trader profits & volume. Guess who bought. They had time for one more dive to $3.01 before lunch and move it back up to $3.05 around 11:45 AM. On my friends take it up signal game.

Then we had my amusement with the 14,900 share guy keep entering orders above the ask when the spread opened and it looked like the PPs would go down again. M&Ms took him out after 1/2 an hour at $3.11 and PPs balanced into lunch about $3.05.

All this told me $3.05 would be the EOD because the daily cycle usually starts big settles at lunch then cycles smaller and settles EOD around lunch figure.

Then we had the suprise of a lunch hour move higher with strength. It signalled a higher afternoon and settled around $3.08.

Right after lunch M&Ms gave the day traders some profits with many order block closes and they also got some swingers around 3k that though the daily bottom was done. Guess who bought the rest. 100, 300, 600.

The afternoon showed a increase in ask inventory, the early bid strength got small. All with good buying pressure, both AM & PM, increasing as the PPs went up. EMOTION, now.

I felt the lunch hour move indicated the M&Ms would keep the ask high to suck out all they could on the emotion & strong profit taking. We had about 500k into lunch & 200k during. So they saw 700k they felt they could count on for some profit takers.

The rest of the afternoon was strong on the ask, until the last 15 minutes, when the bid/ask inventory seemed to balance out. PS; buy then the PPs went from the last daily support level at $3.03 to the last daily resistance level at $3.22.

A fight started and the specialist went in the middle of the large bid/ask spread from $3.10 to $3.23. Also PS: this was the third time I saw the specialist step in. Then held it even until they saw a concensis. And keep the PPs around $3.18.

At the EOD all the exchanges started the EOD settle, to the middle of the swing and the American stepped in with 16k at $3.18 while the others lower bid to $3.15 then $3.12.

What that meant was the game is over, lets squeeze out some weak retailers and get our normal EOD volume. Well GTE's specialist would have noting to do with their bull and then took over and closed 16k high at $3.18 for themselves.

That's what I saw today. Hope it opens some eyes and makes some sense out of what happens in a day trade. A good day trader could have closed 3 5% swings easy. M&Ms squeezed out 1.7 mill at least 200k more then it looked like they could. Swing traders got a morning deal and afternoon average position and as usual retail bought on the move up and sold on the moves down. 100,300,600, 1k filling in all the volume spikes.