I would agree with you if that activity would be used as a signal to initiate a trade. However, to me, it would be a signal to start watching for other clues which may or may not lead to a trade.
Perhaps, but again you'd need to have some reason to believe you could interpret those clues better than anyone else. For example, if you were actually in that industry and had a pulse on what was going on with various players and the company in question specifically. If it's just that you're looking for a broken teacup over someone's head and shoulders, I go back to my original heuristic.
Here's another (Sept. 18, 2019 at around 11am eastern time). FDX today is down 14%+ on the stock from earnings that weren't happy yesterday. Looks like you could have bought in at around $.35 ish yesterday, and be closing out at about $6.50 right now. Only about a 18 or 19x return but not too bad. I think ADBE has some funny stuff going on today also, but not as much %%%. Of course, like always, I'm a day late and a dollar short, but I really do think I might want to play a few of these with some gambling money !!!
I had an ULTA put diagonal at the time. I had $89 profit locked in. Was glad I didn't have a call diagonal.
Your title scare people off. We should not be elated over one day massive gain. We should focus on increasing our profit day after day, week after week, month after month, year after year ....