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reallybadtrader

02/12/07 4:28 PM

#4217 RE: Isaiahfortyoneten #4216

90m traded at offer in the last 2 minutes. Looked good to me. We needed a stablizing day. Stock showed relative strength compared to a down day in the market and closed on an uptick. Ill take it after the terrible past three days of trading.
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colormixer2001

02/12/07 9:02 PM

#4230 RE: Isaiahfortyoneten #4216

Yeah..it sucked.






LONG $ STRONG
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Zen_Audio

02/12/07 9:28 PM

#4233 RE: Isaiahfortyoneten #4216

I didn't get to watch any of the afternoon trading, but the chart tells the story. The stock was rejected from the attempt to break the 3.25 level and signal it's readiness to advance again. That was an odd runup this morning anyway as it was almost no volume at all. Just a couple unfortunate buyers who were lured in at a higher price than they needed to pay. It was also fairly well supported at the 3.10ish level signaling the bearish faction has lost some of it's momentum from last week.
After hours action aside, the chart still appears weak, but the candle today signals mostly indecision, a tug of war, with just a slight edge to the bears. The fact that they could not get it below yesterdays close signals a possible bottom here. It will likely test that level again tomorrow as the bears attemp to regain their momentum.
Right before 1PM east coast time the 5 minute OBV shows a bunch of stock was dumped, but buyers right before the close picked most of that volume back up to end the day mostly nuetral. End of day buying was strong and suggests bargain hunters came late to pick up a bunch of shares. They likely waited to the end of the day to make sure the stock was going to remain above yesterdays lows.