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  • wordjitsu@ymail.com wordjitsu Nov 11, 2012 3:02 PM Flag

    Upward Consolidation

    And I suppose you ARE an expert, hmm?

    One novice to another, I never said what we're seeing is "normal". Quite the opposite, actually. It's abnormal. There's definitely price manipulation here, but to the downside, due to shorting, profit-taking, and options-expiration. But these forces come at a price, which is why, though its traded within a range, the range itself has moved upward - from 74-78 to now ~76-~80. It's got legs @ about 77.50 as of Friday @ close, and my hunch is that the AH move to about 80 is the result of the removal of downward manipulation due to weekly options-expiration - meaning this thing might now have legs @ 79-80, which we'll know for sure a little into trading tomorrow Monday. I am admittedly no expert, but you don't have to be to see these obvious near-term trends. In order not to see them though, all you need to be is a short whose trade is significantly under water.

    Sentiment: Hold

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