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  • balhara balhara Jan 16, 2012 2:52 PM Flag

    Mosaic (MOS) Is it time to BUY...

    hi jackpack29, how did you come with 55.25 as key level to watch. thanks!

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    • jackpack29@ymail.com jackpack29 Jan 17, 2012 1:30 PM Flag

      Because its been bouncing off of $55.25 as a level of resistance for quite some time now, and the bid/ask looks like it gets very lopsided there to me. So whenever a stock finds a resistance point, and cannot close above it, I never fight it. Especially when the market maker is in a position to manage the unwinding of a large amount of shares from an institution exiting a long position of the stock. Some people will call it manipulation but I look at it as stock management. Market makers are good for a reason, and I never fight them, or try to think I'm smarter. Good luck to you!

      • 1 Reply to jackpack29
      • jackpack29@ymail.com jackpack29 Jan 17, 2012 2:40 PM Flag

        I'm watching the volume today as it may tell me something significant about the stock. Only an hour and a half left for trading and only 2.9 million shares traded. Stock is above my $55.25 level but on very light volume. If there's a big buyer, the MM will let it fly in the final hour or so. It could finish positive at end of day, but only with heavy volume. Pay attention to the volume. It looks as if it's setting up for a better day tomorrow.

 
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