02-21-2013, 04:05 AM
Lib is quite familiar with the daily spikes on some volume. This is usually the shorts working the stock, dropping a small block on the mkt and trying to sell it down from there. Usually its almost like a signal. But lately they can't hold it or work it down. It's a tug of war with stealth and size buyers accumulating. I felt last week we would start seeing long players entering the scene and offsetting the short activity. I think that's what is starting to go on. It also raises a question as to whether the stock has much downside at all. I am starting to feel more confident that IOC is not going to go down much from here, if at all. Decent amount of resistance in the 75-79 area, but not a whole lot from 80-99. I can't rule out a 5-6 point reaction somewhere here, but mostly see the stock moving into the 80's in the next week or so. Good consistent accumulation...hope this helps