Current Trade

Wednesday, December 8, 2010

This Wednesday LAQ.V and DEI.V


This Wednesday was the usual bullish effort met with distribution (the bulls were a bit on light side or the bears weren't heavy) but distribution was still evident.. American indexes did okay, but Canadian indexes were hit hard.... So much for the bullish show on Monday and Tuesday. If the pattern goes back to normal we should see less distribution Thursday and Friday except for the weekend sellers...

Looking at the indexes in the public chart list... you can see the pressure....

StockCharts Public Chart List


DEI.V is doing the Level II Teardrop.... Levell II is showing weakness on the asks, and bids were building as the day progressed.

LAQ.V is up 15.79% over yesterday... looking back it takes 3 to 4 million shares traded to put in a top... The chart hasn't topped... we did about 1.5 million shares traded on a solid looking real time chart... I see no evidence of distribution stockwise as of the close today... in fact if you can believe a chart there is no sign of weakness showing.... compared to level II yesterday the resistance has been cut just about in half... exuberance is potentialy possible.... Thursdays the distribution marketwise, usually backs off, or has been... the last few weeks, but that is moot.. I saw no evidence of distribution in the stock, which is what I would be concerned about.

I have heard LAQ's inventory has increased by 300 %... what that means in real terms I'm not sure, but to confirm the quote... I intend to call them and see if they know what I'm talking about.

StockCharts Public Chart List


GLTA Lostoutwest

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Posted by at 3:30 PM
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