HA! whats 100 pts among friends. Thanks for the link.....the rate at which this thread is going...the levels discussed get mixed up.
Damn...I am half asleep today (I was up most of last night watching the market/positions and trying to finish up some trading projects). You can see that "holders" from 875's on up to the low 880's just bailed on previously entered and held inventory. After a 24 hour run from the 923's to price right in their face, it was looking very non-optimal for continuing to hold. Upon nuetralization of that inventory we had a burst of short covering (sellers from above taking good profits) mixed with some new initiated buying. Now price is suspended in animation with a new fresh un-tested inventory zone just below us (882.50 to the 885's).....so now we get to see who will take control of price next after an amazing 24 hour move.
Its not really that bad until your start DREAMING of levels.......:eek: Hopefully as a young child, none of you would walk around telling people......"I see dead levels!" :eek:
882.50 is the very bottom of the 882-885 long zone. Admittedly, my inventory measurement is still lacking, as I'm constrained to what can be "quant"ed. D.
If the bulls can hold these levels we might see a nice pullback and retest of the 911-914 Short Zone above.
Amazing trade calls AMT... a marvelous one-man show. What made you so confident about 924-927 holding? Did you read the buying to be of poor quality- weak bulls, short covering ? The incredible dropoff from the 923's was so swift and rapid. Did you anticipate that as the PA you expected after a buying climax?
Long zone 882.50 to 885 is thinning out (-6k). Check out positive CD div (+7k) on the double touch of 882.50 to see if it can be relied on... will know soon, right? D.
I see it... there isn't enough selling volume (yet) to take it out... but hard to predict, will it all of a sudden just flood the bid at 2 or 3pm? or will there be a weak rally out of the region... I think it'll eventually get hammered today.