Psychology is 90% short term trading. 1st part of the W is a high volume move down to take out stops and throw the newbies and chasers off the wagon. Then you get the brief move higher caused by lack of sellers at the relatively depressed price while at the same time getting new investors once again who missed the initial run. Then the second move down of the W which should put in a higher low than the previous low. This is where we sit today, at the bottom of the end of the W pattern. Price per share barely moves and impatient investors jump ship with small gains or losses while smart money gobbles up the cheap shares. Smart money always has cash on sidelines while inexperienced traders are fully invested and most likely bought at higher level and is scared. If you keep cash available you won't be scared and will welcome any pullback. This is the cheapest you will be able to buy ANX. This is what the chart says. From here, we start a new up-leg which will take out the previous highs at .50
Who knows how high this goes, but I do know that today is THE LAST day to load under .32
This post was from the runup last year. But it applies to today's action, being 2nd dip of W.
Smart money is buying and idiots are selling for 20% and 30% gains.
smart money will catch the double in the coming days
I'm no pumper or basher. I'm a trader. Someday I will advise to sell this puppy. Not today though! : ) Probably not for several days/weeks. .98 gap resistance is where I would really lighten up