|
PureBytes Links
Trading Reference Links
|
This is basically a question of what could've been happening today. In
Jeff Coopers Book Hit and Run he talks about a possible setup using what
Larry Williams calls "Oops", jeff cooper "Whoops".
In the message he says:
"This type of morning reversal action is especialy prevalent in trending
stocks. Example, when a stock is in a strong downtrend, brokerage houses
will manupulate a quick early rise via positive comments,earnings
estimate increases,positive opinion changes, etc. When this occurs ,
those who are short get nervous and cover their positions and that the
brokerage houses will be selling to those shorts. This way the
brokerage firms can clear their inventory of the stock."
The reason why I ask this is CA(computer associates) had a great run up
5 1/4 points today. The news on the stock it has three classaction
suits filed against it today. I could understand a couple of days ago
the bounce, it hit its 2.618 ret. And two others that stand out AMAT
and NVLS, no news for two days and great run ups.
Could this be a possiblity??
Thanks,
Joe Frabosilio
|