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I don't recall any significant news. I just think it is all of those who missed the big up move, trying to get a piece of the action on any pullback. It will be interesting to see what the market does tomorrow.
Until proven otherwise I think today's action confirms that the bulls are still hanging around and for the most part pushing stocks higher. The late action (erasing the gains with significant volume) is a bullish sign of the strength of the buyers. I will continue to believe in the rally.
I bought 500 shares of COIN at $1.61 today. The stock looks like it's consolidating and in a tight volatility squeeze well below the 200 MDA. Selling volume looks to be drying up.
I also picked up 200 shares of YHOO today at $16.15. I've looked at the internet stocks yesterday and today and they all have ascending trends intact. I stalked this one all day and saw that there was solid support around the $16.10-16 level and decided to pull the trigger believing that the bulls would come back. I didn't think they would come back today... betting more on tomorrow. I have a stop order set around $15 in case the pullback everyone's still waiting for occurs in the next couple days.
I don't recall any significant news. I just think it is all of those who missed the big up move, trying to get a piece of the action on any pullback. It will be interesting to see what the market does tomorrow.
ReplyDeleteUntil proven otherwise I think today's action confirms that the bulls are still hanging around and for the most part pushing stocks higher. The late action (erasing the gains with significant volume) is a bullish sign of the strength of the buyers. I will continue to believe in the rally.
ReplyDeleteI bought 500 shares of COIN at $1.61 today. The stock looks like it's consolidating and in a tight volatility squeeze well below the 200 MDA. Selling volume looks to be drying up.
I also picked up 200 shares of YHOO today at $16.15. I've looked at the internet stocks yesterday and today and they all have ascending trends intact. I stalked this one all day and saw that there was solid support around the $16.10-16 level and decided to pull the trigger believing that the bulls would come back. I didn't think they would come back today... betting more on tomorrow. I have a stop order set around $15 in case the pullback everyone's still waiting for occurs in the next couple days.