Well, 10am at work, and got to the computer. Saw techmark down about 80 points, so had a sense of deep dread when I went to look at the constituents. (only in on ARM at the moment, though wish I wasn't!!).
However, ARM today at 310 (up 2.65%, wide spread, ADVFN trades - 1.5M buys, 2.28M sells. Level 2 - 584Kbuyers with few bids under 285 to skew things, ONLY 160K sellers)
Checked some of the others to - BLM only 2% down, buyers:sellers 0f 2:1, BHM up with ratio of 4:1... All the selling action appears in 2nd line stocks.
So, why? Would love to come to the chatroom on this one, but my network will not allow me to download the software. Is it because MM manipulation to NOT destroy confidence, as it lowers their business? Keeping above psychological levels eg 300 for ARM prevents the rout. Is it that all the sellers have already left? Is this going to be a bull trap, to attract buyers THEN let it fall? Or is it just good old British pragmatism, of battening down the hatches, keeping a stiff upper lip etc!
I am not experienced enough to know. Any help will be gratefully received.
Mark
However, ARM today at 310 (up 2.65%, wide spread, ADVFN trades - 1.5M buys, 2.28M sells. Level 2 - 584Kbuyers with few bids under 285 to skew things, ONLY 160K sellers)
Checked some of the others to - BLM only 2% down, buyers:sellers 0f 2:1, BHM up with ratio of 4:1... All the selling action appears in 2nd line stocks.
So, why? Would love to come to the chatroom on this one, but my network will not allow me to download the software. Is it because MM manipulation to NOT destroy confidence, as it lowers their business? Keeping above psychological levels eg 300 for ARM prevents the rout. Is it that all the sellers have already left? Is this going to be a bull trap, to attract buyers THEN let it fall? Or is it just good old British pragmatism, of battening down the hatches, keeping a stiff upper lip etc!
I am not experienced enough to know. Any help will be gratefully received.
Mark