GREY:ALXDF - Post by User
Post by
goldopportunityon Sep 06, 2017 5:59pm
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Post# 26663671
Fwiw.......
Fwiw.......Alxdf closed at usd .05 = cdn .0613 (boc 1.2264 close)
Quiet day volume-wise on alxdf as only 1K changed hands. I noticed that the size on the best and market depth bids increased quite substantially today in spite of the mm idiots still low-balling them. As an aside, today azx got as low as cdn .05 which just about equals the dollar-equivalent low alxdf saw yesterday. Coincidence? I think not. Could it be that alxdf is now the dog wagging the azx tail?
After yesterday's relatively high volume, today's meagre volume actually told a very bullish story. It told me that no one was selling. Very important. You see, it didn't matter that no one was buying. The important thing to the mm idiots was to see if there was any follow-thru selling from yesterday. The idiots did everything right according to their rule book: they kept the best bid low throughout the day, they continued to low-balled the market depth and they patiently waited to see if any retail sucker would take the bait. Their fishing expedition resulted in an absence of sellers. Very bullish.
Bottom-line:
So today's closing was kinda an equilibium between the buyers and sellers. Hence, the almost zero volume. Those staggered asks on the market depth tell me traders are getting ready for some solid upside action.
I suspect professional traders will be adding to their positions here. Basically the ball is in the mm idiot's court now. They'll want to call the shots on the move higher. So expect your resolve to still be tested. And the idiots love to trade because that's how they make money. So you can still expect volatility. But another plus going forward is that alexandria will soon benefit from rotation. Traders who have taken st profits out of senior and intermediate golds, will rotate into some of the quality jr gold "laggards". I'm expecting this will also exert upward pressure on the alxdf sp very shortly.
So we'll see what happens. Continue to stand your ground, folks. Jmvho.
goldopp