Hello all,
Getting euphoric yet? This pump was designed to get new traders and highly leveraged traders to enter very risky Long positions. The volume on the last pump was very indicative of a 'push to fill'. I'm not saying it was 100% to fill large short positions, but it definitely seems like the case. Shorts STILL need to test the 3.3-3.5k area before continuing up.
Remember, don't underestimate where the bulls can take this pump. Assuming we do go down and test 3.4k, I would be very cautious of staying/entering in a short position. Longs only, until we manage to break the previous low (which I believe is high unlikely anytime soon.)
It is quite evident the big boys are starting to flood back in. Be careful and good luck!
Getting euphoric yet? This pump was designed to get new traders and highly leveraged traders to enter very risky Long positions. The volume on the last pump was very indicative of a 'push to fill'. I'm not saying it was 100% to fill large short positions, but it definitely seems like the case. Shorts STILL need to test the 3.3-3.5k area before continuing up.
Remember, don't underestimate where the bulls can take this pump. Assuming we do go down and test 3.4k, I would be very cautious of staying/entering in a short position. Longs only, until we manage to break the previous low (which I believe is high unlikely anytime soon.)
It is quite evident the big boys are starting to flood back in. Be careful and good luck!