GREY:JNRRF - Post by User
Post by
st0ckpickeron Oct 22, 2004 10:28am
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Post# 8080812
Eyeing the action
Eyeing the actionInteresting action in a lot of the uranium miners looks like a forced march down to me. When the bid drops a penny the ask immediately comes down to stay a penny above. Why would this happen consistently? If the seller in question really was eager to exit they would just hit the bid and be done with it. Instead they really don't want to sell the shares as much as use them as a wall to creep the bid down so that the buying pressure is kept to a minimum. Maybe just a conspiracy theory but that is what it appears to me. The end result is still weakness so in that way it matters not but it is important to try to understand exactly who is selling and why. To me it appears that they are trying to drip, drip the market in hopes of getting it low enough to create a new round of selling volume. There is support close by and probably stops around there waiting to be harvested. Be careful!