I think the "creeps" are just as confused about Monday as are we.
If Friday's action was short covering,they have a problem (and I think we would have seen some panic among some of the bashers).
If Friday's action was from a/some buyers,they have another problem.Could have been a leak.
Whoever was buying on Friday was hitting the ask a lot.(I don't think shorts covering would behave that way unless big news) That's why I think it was legitimate buyer(s).
A lot of traders like to cash out by Thursday for the weekend and many Longs and others aren't really watching things on Friday.So the audience #'s are at their lowest of the week.
That said,if the buyer had jumped in Monday-Thursday,it could have caused a much bigger "stampede" than on Friday.Traders would have rushed in pushing the SP even higher (and then sold for more profits) but on Friday the SP was kept to a level that was acceptable to the buyer(s).
Will they return on Monday? (I doubt it,they will wait for a correction to buy more is my guess) That is,unless Leo has some dry powder for Monday.
Traders who did hold over the weekend will likely sell and take profits but I'm sure at this point they will watch to see how the trading starts out first.
If Friday was short covering then it may have started a covering stampede.
Just my speculation.
Kelt
If Friday's action was short covering,they have a problem (and I think we would have seen some panic among some of the bashers).
If Friday's action was from a/some buyers,they have another problem.Could have been a leak.
Whoever was buying on Friday was hitting the ask a lot.(I don't think shorts covering would behave that way unless big news) That's why I think it was legitimate buyer(s).
A lot of traders like to cash out by Thursday for the weekend and many Longs and others aren't really watching things on Friday.So the audience #'s are at their lowest of the week.
That said,if the buyer had jumped in Monday-Thursday,it could have caused a much bigger "stampede" than on Friday.Traders would have rushed in pushing the SP even higher (and then sold for more profits) but on Friday the SP was kept to a level that was acceptable to the buyer(s).
Will they return on Monday? (I doubt it,they will wait for a correction to buy more is my guess) That is,unless Leo has some dry powder for Monday.
Traders who did hold over the weekend will likely sell and take profits but I'm sure at this point they will watch to see how the trading starts out first.
If Friday was short covering then it may have started a covering stampede.
Just my speculation.
Kelt
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