Nota..
Quote " Mr.Buffett isn't a day trader and that's what we're dealing with now."
Yes..Certainty Buffett is not a day trader. Its the rest of your sentence I do not agree with..
IMO the price action and volume is not consistent with any day trading scheme I am aware of..For the last couple of days there has been a concerted effort, with very impressive late day volume, to move the price up through an area of heavy resistance. This coming after a period of what I am certain O'Neil would identify as "basing". This is clearly the footprints of institutions as they were facing block trades and managed to chew through them.
"Day traders" do not have this kind of fire power and do not operate in this manner. Day traders are like like pilot fish. This action was done by sharks. No doubt there were some "day traders" who piled on after the PPS broke out of the range...As the Geico Ads say.."That's what day traders do, they pile on"..
":>) JL
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