Today's Money Flow Index Indicates STRONG BUYING PRESSURE
The money flow index (MFI) began and finished the day at over 90% and stayed above 50% almost throughout the day. This technical indicator is the percentage of positive money flow in the total money flow (positive and negative). The positive money flow is the value of trades when the price is rising, and conversely, the negative money flow is the value of trades when the price is declining. When the MFI is at 50% the positive money flow equals the negative.
Today, during the first and last hour of trade, the MFI was very high, above 80%. This is a clear indication of a strong buying pressure. In fact, even when the price was in the red, the MFI was quite strong. This suggests that while the MMs tried to create a picture of decline, traders were buying SIGA shares (at good prices of course). in the recent times, a combination of a rise in the MFI of SIGA and a price that seems to refuse to rise, has indicated an ACCUMULATION and a SUBSEQUENT SHARP RISE.
Could it be that someone(s) analyzed the arguments in front of the DE Supreme Court and have consequently been accumulating shares of SIGA?