OTCPK:MGMXD - Post by User
Comment by
statstatson May 19, 2015 7:43pm
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Post# 23742637
RE:RE:RE:RE:RE:cup and handle
RE:RE:RE:RE:RE:cup and handle
I have found a large spike in volume on a stable price to be bullish. The market makers raised the bid after taking in the large sale, which suggests either they still want shares or they're doing a head fake, but I don't think they'd be fooling around with that amount of money. Last time I saw something similar, turns out Beaty was buying. The weird thing is that often when I see a large sale at the bid, it never seems to go anywhere, (i.e., no offsetting buy at the ask). But it seems to be bullish even if the corresponding purchase at the ask is not apparent. Anyone have an explanation for why a large transaction gets sucked up on the bid but never seems to go anywhere?