You might be right but still a lot of demand in the queue with 321 buyers for 2,037,990 units vs 90 sellers for 618,929 units.
I hold so fingers crossed it doesnt collapse after todays run, but Im thinking what you're thinking :)
nfury8
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@Angusmck,
The stack can be manipulated by literally anyone, it stands for and means absolutely nothing
zAngus
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@nfury8, I have a different view of it, but thats the wonderful thing about trading.
nfury8
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@Angusmck, look where those 'big' bids are, theyre ALL well, well under any chance of being hit
zAngus
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@nfury8, same argument applies for the sell side of course. Just look at the weighting of say the top 4 bid and sells on either side. Yes I know they can be stacked and people can pull those bids any second, but for me Id prefer to see a stock with significant weighting at the top on the buy side than one with a much greater weighting at the top on the sell side. Whether it is instos manipulating the stack or retail investors with FOMO either way its not a bad sign (for how I trade...) Whenever a stock goes up 10% in a day there is bound to be some kind of pull back the next day. Whether it is 50% or the whole lot, or whether it punches through the low of the day and continues down is anyones guess. It might need some time to breath before it re-rallies again. Im bullish long term but certainly have my take profit stops in.
nfury8
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@Angusmck, exactly making them both unreliable and not worth much.
The other thing is, its being 'held' at that lucky punters 10%, it looks pretty and most will take a shot if the downside is only 10%.
Time will tell, but everybody certainly has a different system...thankfully
zAngus
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@nfury8, I hope I'm only a 5% pull-back right because I hold and that's where my stop is :D
nfury8
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@Angusmck, The other thing i was going to mention was how small the buys actually are, that for me is a major issue
jay-kay
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@nfury8, I learned my lesson with PNV when it was 75c. The people buying it are doctors. They buy, they don't sell. There are very few 'ideal' entrypoints with PNV, it is mostly a straight line up.