s7c's  Instablog

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I'm from Romania, living now in Chicago. i have an engineer degree but i'm interested in more freelance opportunities type of business. so with that in mind i started to trade options...my analysis is based on the "psycho-technical" side(Auction Market Theory, Volume Spread Analysis, Wyckoff,... More
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  • Stocks To Watch: FB, MCD, MSFT, NFLX 0 comments
    Apr 1, 2013 4:01 AM | about stocks: FB, MCD, MSFT


    ->on 27th we found some buyers at previous demand area but based on Auction Market Theory principles the profile for that day resembled with P letter reflecting a potential short covering rally instead of new buyers. on 28th we had a sell off and the POC moved lower and closed the day on the low, making a poor low(meaning we need to revisit the area).


    ->failed to close the gap and now retest the highs, I'm not sure though if we really have new buyers or just some capitulation off the sellers who thought it's a good idea to sell the gap. so we have some potential short covering rally and some kind of test on weekly chart. could we see some rally?

    (click to enlarge)


    ->this could be the start of a new rally, we have on Thursday a healthy move with high volume and high value ? since November last year we have 2 overlapping high value areas which means we have allot of auctions rotations and now market decided to go look for acceptance higher which if is accepted could have a high amplitude move. i would love to see a down day on low volume(test) and after i would initiate a long strategy when we retouch the high of the test day.

    (click to enlarge)


    ->i'm still bearish and could have a better entry now. if you check my previous posts you will see what i mean...

    Stocks: FB, MCD, MSFT
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