# Heavy buying before the close?



## pursuitute (9 August 2009)

Hey, I've got a question on a scenario I have been looking at and wonder what peoples thoughts are.

Stock X has been on a bit of a roller coaster this past week and I have been watching intently.  On Friday it was having a reasonable day and was tracking about 8-10% up all day and then with ~10mins to go, a feeding frenzy started and it jumped another ~8% which it maintained during the close.

Volume for the day was about 70% up on the previous two days and no announcements or other press were present at the time.  Infact, the last announcement was more than 2 weeks prior.

What do you think is in store for this scenario on Monday?


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## cutz (9 August 2009)

*Re: Question - Heavy buying before the close..*

G'Day pursuitute,

What's the ticker code for stock x so we can check it out.


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## tech/a (9 August 2009)

A speeding ticket.


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## Sean K (9 August 2009)

Depends on the $ amount.

Someone could spend $10K to take a spec stock up 20% if they wanted. 

WOW!


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## beerwm (9 August 2009)

maybe insider trading...
[or an 'expectation']

I've seen stocks surge in price and volume before an announcement is released.
[on the shorter timeframe]


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## jono1887 (9 August 2009)

pursuitute said:


> Hey, I've got a question on a scenario I have been looking at and wonder what peoples thoughts are.
> 
> Stock X has been on a bit of a roller coaster this past week and I have been watching intently.  On Friday it was having a reasonable day and was tracking about 8-10% up all day and then with ~10mins to go, a feeding frenzy started and it jumped another ~8% which it maintained during the close.
> 
> ...




what stock was it?


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## cutz (9 August 2009)

jono1887 said:


> what stock was it?




Jono, 

I've already asked, i think pursuitute wants to keep it a secret.


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## ThingyMajiggy (9 August 2009)

down day on monday


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## awg (9 August 2009)

cutz said:


> Jono,
> 
> I've already asked, i think pursuitute wants to keep it a secret.




I will spill the dirty little secret

Only 2 stocks match the criteria

MEO and RCR


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## sammy84 (9 August 2009)

awg said:


> I will spill the dirty little secret
> 
> Only 2 stocks match the criteria
> 
> MEO and RCR




I cant believe you just did that!


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## tech/a (9 August 2009)

I'm with Sam but think that both will likely finish lower than Fridays close after an initial buying frenzie in the morning.

This will take the shape of a pivot point reversal.
There could possibly be an inside day on one of them.RCR the most likely.


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## pursuitute (9 August 2009)

awg said:


> I will spill the dirty little secret
> 
> Only 2 stocks match the criteria
> 
> MEO and RCR



lol, nice work, MEO it is.  It's no secret, I was just trying to keep the discussion general.


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## pursuitute (9 August 2009)

tech/a said:


> I'm with Sam but think that both will likely finish lower than Fridays close after an initial buying frenzie in the morning.
> 
> This will take the shape of a pivot point reversal.
> There could possibly be an inside day on one of them.RCR the most likely.



What's an inside day?

edit - Google is my pal...



			
				Investopedia said:
			
		

> An inside day is often used to signal indecision because neither the bulls nor the bears are able to send the price beyond the range of the previous day. If an inside day is found at the end of a prolonged downtrend and is located near a level of support, it can be used to signal a bullish shift in trend. Conversely, an inside day found near the end of a prolonged uptrend may suggest that the rally is getting exhausted and is likely to reverse.


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## pursuitute (9 August 2009)

ThingyMajiggy said:


> down day on monday






tech/a said:


> I'm with Sam but think that both will likely finish lower than Fridays close after an initial buying frenzie in the morning.



Thanks for your thoughts guys, personally I can't imagine anything occurring other than it dropping - not based on anything more than my head drawing pictures though .


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## tech/a (10 August 2009)

Close to what we thought.


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## ThingyMajiggy (10 August 2009)

your call wasn't far off. 

I wouldn't be surprised if we see a down week for both of them.


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## awg (10 August 2009)

pursuitute said:


> lol, nice work, MEO it is.  It's no secret, I was just trying to keep the discussion general.




just my misplaced sense of humour

i was running some scans at the time

wouldnt have remarked if i thought it could actually hurt your strategy

apologies for any breach of netiquette


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## tech/a (10 August 2009)

ThingyMajiggy said:


> your call wasn't far off.
> 
> I wouldn't be surprised if we see a down week for both of them.




To early to tell but MEO looks the weakest with a lower high on high volume

RCR is likely to test the high and today's bar was quite squat.
The 4/5/6 th August bars were and are pivotal. Id be suprised if 64.5 was breached.


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## beerwm (10 August 2009)

pretty stupid analysis,

the market was being sold off in the afternoon, MEO and RCR we're in the green at midday

you've just identified what happened to the majority of stocks today.


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## nunthewiser (10 August 2009)

ThingyMajiggy said:


> down day on monday






tech/a said:


> I'm with Sam but think that both will likely finish lower than Fridays close after an initial buying frenzie in the morning.
> 
> This will take the shape of a pivot point reversal.
> There could possibly be an inside day on one of them.RCR the most likely.






beerwm said:


> pretty stupid analysis,
> 
> the market was being sold off in the afternoon, MEO and RCR we're in the green at midday
> 
> you've just identified what happened to the majority of stocks today.




was a good call in advance , nothing stupid about it.


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## tech/a (10 August 2009)

beerwm said:


> pretty stupid analysis,
> 
> the market was being sold off in the afternoon, MEO and RCR we're in the green at midday
> 
> you've just identified what happened to the majority of stocks today.




Yeh but did it yesterday!

Stupid analysis has been very profitable for me in the past.
I look forward to seeing some of your stupidity soon.

Oh my apologies its in the quotes above.


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## beerwm (10 August 2009)

tech/a said:


> Yeh but did it yesterday!
> 
> Stupid analysis has been very profitable for me in the past.
> I look forward to seeing some of your stupidity soon.
> ...




this is dumb,

attributing your analysis to a marketwide afternoon sell-off.

-many factors in play ; analysis hasnt proved anything/ claiming it has, is just narrowminded.

[this is just a comment, i dont care for an internet argument]


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## tech/a (10 August 2009)

OK
Thanks for your comment.

I must admit I was thinking exactly that on Sunday.
The Monday sell off was a cert.


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## Timmy (10 August 2009)

Getting it right is stupid?  Pretty harsh comment.  

Hate to see what happens when your call is wrong.


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## Frank D (11 August 2009)

tech/a said:


> Close to what we thought....pivot point reversal




I don't see any pivot points...

those two charts don't make any sense to call it a 'pivot point reversal'


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## tech/a (11 August 2009)

Frank D said:


> I don't see any pivot points...
> 
> those two charts don't make any sense to call it a 'pivot point reversal'




Your correct Frank in respect to terminology.
(1) Open/Close reversal is more correct and it is psossible that it could morph into a 
(2) PP reversal after close today.


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