I am already out of every position, except
for a re-entry in INCX at 11.30 .
Today there is definately institutional buying of INCX. This morning, the stock went lower on high volume all the way to the low 10 (which, by the way, is a natural support). A reversal after hitting the low 10 is expected. But why didn't it reverse back down to 10 or below after the bounce? It's because institutions (the big boys) are buying aggressively. If they were to just cover their shorts, the stock would have reversed back down later in the day, but it didn't. We got over twice the volume of yesterday and closed in the higher trading range. That is definately institutional participation today!
This morning's sellof was, in my opinion, the work of the true longs selling and capitulating (they couldn't handle the dip anymore and just gave in and sold!) When i went back to the INCX in the afternoon, there was hardly anybody posting on the INCX board! I realized later that it was probably because they 'capitulated' - sold and moved on.
The best time to buy wasn't necessarily the low 10's because it could have continued to go lower. The buying after the morning's dip was on high volume and there were little selling going on; it even made some gains on top of the reversal of the morning's loss. It eventually formed the intraday cup-and-handle formation and we blasted off in the end. Closing above $12 was good, but closing above $12.60 would be better.
In my opinion, what happened today was classic institutional buying at the dip. High volume capitulation plus high volume net buying + additional net price gains + natural support at $10, were very enticing to the institutions to buy.
Let's see what rocks tomorrow. We want to see INCX close above $12.60 to be extremely bullish.
I sold all my other stocks in the morning and afternoon, and is now fully loaded in INCX at average $11.30 .
Today there is definately institutional buying of INCX. This morning, the stock went lower on high volume all the way to the low 10 (which, by the way, is a natural support). A reversal after hitting the low 10 is expected. But why didn't it reverse back down to 10 or below after the bounce? It's because institutions (the big boys) are buying aggressively. If they were to just cover their shorts, the stock would have reversed back down later in the day, but it didn't. We got over twice the volume of yesterday and closed in the higher trading range. That is definately institutional participation today!
This morning's sellof was, in my opinion, the work of the true longs selling and capitulating (they couldn't handle the dip anymore and just gave in and sold!) When i went back to the INCX in the afternoon, there was hardly anybody posting on the INCX board! I realized later that it was probably because they 'capitulated' - sold and moved on.
The best time to buy wasn't necessarily the low 10's because it could have continued to go lower. The buying after the morning's dip was on high volume and there were little selling going on; it even made some gains on top of the reversal of the morning's loss. It eventually formed the intraday cup-and-handle formation and we blasted off in the end. Closing above $12 was good, but closing above $12.60 would be better.
In my opinion, what happened today was classic institutional buying at the dip. High volume capitulation plus high volume net buying + additional net price gains + natural support at $10, were very enticing to the institutions to buy.
Let's see what rocks tomorrow. We want to see INCX close above $12.60 to be extremely bullish.
I sold all my other stocks in the morning and afternoon, and is now fully loaded in INCX at average $11.30 .
posted by beanie11111 | 5:15 PM
3 Comments:
The only thing i am going to say about that is that you should not be in ABLE if you are not a fast trader and cannot handle volatility, as i have been saying for days. I called ABLE at $7 and most have sold at around $12. Anybody that comes in after that better be fast traders or else.
The target of $50 is achievable, i believe, but not by tomorrow or this month!
I am still standing by target of $100 for GRU as well. And it looks like GRU may actually get there this year.
Rock on!
I set a price target of $100 awhile back. It's headed to $100.
Sorry, i thought you were asking about GRU.
I believe INCX will at least close the gap down we had from 20. After that, i would re-evaluate.
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