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Now This Is Interesting!

Chart Forum » Stocks - ASX: short term (strictly TA) » Archive through April 03, 2011 » Now This Is Interesting!

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gdd3
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Username: gdd3

Post Number: 1158
Registered: 09-2002

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Thursday, December 16, 2010 - 11:42 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



THIS IS "SPOOKY"...

I was looking at both KAS and VMS pre-opening this am and noted the similarity? in their daily charts and their current 'wobbly' position(remember, prior to opening. I could identify on each 'classical' H&S patterns and that we were right at the neckline after completing the RHS of the pattern. Things were looking decidedly ominous for a breakdown and I work out approxly to where....~ 20.5c...if it does happen and even contemplate placing a buy order somewhere near there.

So, with interest I monitored them on a 'tick' chart from open and just have a look how, first KAS squeezed through the neckline(31.5c/30.5c) and then in an instant(10:46:48 to 10:46:57, yes 9 secs) she , well, "pooped" down to 21.5c. Nothing too unexpected as you could assume it was all those T/A pattern "stops" going off. Well what I find interesting wa show quickly it bounced from there almost immediately(within another 10secs or so it was back up to 26.5 and a minute later 29c)...almost back to the neckline. (see tick chart chart).

Now I'm thinking ...oh, well that opportunity has gone in a blink of an eye so I switch my attention to VMS which is still trading just below its neckline(49c), quickly work out where her M/M for her H$S pattern comes in at(36c) ...and dare to think...COULD THE SAME THING HAPPEN TO VMS?; NO WAY?...WRONG! At 10:12:15 shes still at 47.5c, 4c secs later shes down to 37c and low and behold shes back up to 46c 15c later...yep, history repeated but in different stocks! (see her Tick chart).

One explanation is that it was the same seller in both stocks obviously using one Broker who immediately 'snapped' them up for himself(or a sophisticated investor) for an early (cheap)Christmas present!

Definitely NOT MANIPULATION, RIGHT! Of course not; these too stocks are not prone to manipulation, wrong again! Oh well we are left to ponder and watch with interest!







KAS....Daily Chart plus today's Tick Chart





VMS.....Daily Chart plus today's Tick Chart


Comments are welcome...

Cheers

Dolphin


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p3t3
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Thursday, December 16, 2010 - 12:07 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)




gdd3 wrote on Thursday, December 16, 2010 - 12:42 pm:

One explanation is that it was the same seller in both stocks obviously using one Broker


Hello Dolphin

Looks more like a Prop Desk operation by one of the large US Banks or one of their associated hedge funds (the big banks provide the hedge community with loan/margin funding). The offshore brokers and hedge operators are beyond the reach of ASX and Oz Government regulators, for the most part.

The broker has information about the stop orders in place, and when volume gets high enough to make the risk trade worthwhile they run the stops and become the buyer at the lowest level, once sure any momentum following systems have had their orders triggered.

Just one more way in which the larger sharks make a meal of us smaller fish.

p3t3

(Message edited by p3t3 on December 16, 2010)


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gdd3
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Thursday, December 16, 2010 - 12:13 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Spot on p3t3...I just wanted someone else to take the responsibility to say it...as I said, all we can do (as minor participants) is to watch with interest or be verrrrry lucky to have our order way "out-of-the-money" their waiting!

No matter; I haven't liked the 'trading' action for either KAS and VMS in very recent times anyway even though in the past I have traded them with some confidence and some success.

Thanks for you comments.

Dolphin







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jimmyswell
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Thursday, December 16, 2010 - 04:19 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



I recall that Jaded posted some interesting insights on other threads, along similar lines.

ie "Sophisticated" traders triggering stop-losses and vacuuming up bargains, etc.

I'd be interested in his perspective on this phenomenon you've observed.

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