SFMc01
358 posts
msg #92879
- Ignore SFMc01 |
5/18/2010 5:38:33 PM
On Monday about 3:45 pm a chat room moderator that I was listening to, said that if anyone was holding onto certain stocks, they might want to hold overnight because the market was likely to "pop" at the open Tuesday morning.
As you know, on Tuesday morning, as he predicted, the market jumped up after opening.
In Tuesday's afternoon chat room I asked "could you share with us what led you to believe the market would gap up today?"
He replied, ...typing quickly,... "the market had reversal price action midday (Monday), that was then accelerated in the last hour, usually mid day turn arounds are quants or prop desks cherry picking a turn but late hour extension like that on heavy volume is institutional"
Any opinions on this? Do you concur?
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