(Total Views: 442)
Posted On: 12/29/2019 8:17:47 PM
Post# of 154141
Crazyjogger, Sjacobs,
Agreed. Volume will be key tomorrow.
Friday's action was driven by an overwhelming number of buying taking stock from weak-hand sellers.
The source is not clear to me either. I was thinking that a lot came from overseas but can't give any proof for that. I am saying this because, as part of my morning routine, I always check the Far-East & European markets and CYDY was trading already much higher in good volume in Germany meaning there was increased interest for CYDY. I am sure lots of traders prefer the more liquid markets here in the USA.
Other possibility is one or two players with deep pockets. I believe somebody mentioned that there where large stock blocks going to the same place. If we think about it, 8.3 million shares @ $1 is only $8.3 million (nor that I am saying there was no churning), but you get the point, pocket change for a wealthy, aggressive investor.
Or the truth is more simple: retail investors like us, but I seriously doubt it. Most of us where already over-invested with scarce funds available (worst in Christmas season).
Who knows, but I hope it continues, as high(er) volume will mean a smaller retracement (if) and the possibility to break the $1 barrier, fiercely defended by bears on Friday.
Agreed. Volume will be key tomorrow.
Friday's action was driven by an overwhelming number of buying taking stock from weak-hand sellers.
The source is not clear to me either. I was thinking that a lot came from overseas but can't give any proof for that. I am saying this because, as part of my morning routine, I always check the Far-East & European markets and CYDY was trading already much higher in good volume in Germany meaning there was increased interest for CYDY. I am sure lots of traders prefer the more liquid markets here in the USA.
Other possibility is one or two players with deep pockets. I believe somebody mentioned that there where large stock blocks going to the same place. If we think about it, 8.3 million shares @ $1 is only $8.3 million (nor that I am saying there was no churning), but you get the point, pocket change for a wealthy, aggressive investor.
Or the truth is more simple: retail investors like us, but I seriously doubt it. Most of us where already over-invested with scarce funds available (worst in Christmas season).
Who knows, but I hope it continues, as high(er) volume will mean a smaller retracement (if) and the possibility to break the $1 barrier, fiercely defended by bears on Friday.
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