Is THAT what covering looks like?

[calaban48]

Settle a disagreement, please: I have one broker who says short interests have been covering Tuesday since about 1:50 p.m. Another broker assures me that at the day's low, the market saw IOC as more attractive.

I have my own opinion. Yours is welcome.

[Palm]

Real combo I think. Probably some stops being wiped out at $80 and I heard there was some forced selling also to cover margin bets. Shorts see this stuff and compound it to try and destroy confidence of wobblers IMHO. But EOD we are green again with all of this washed out and stock being silly cheap. I bought more traders in low 78s today.

[tarulestheday]

There are no obvious fingerprints on today's trading to really tell IMO. There was a 34K share order sold at market about 15 minutes before the close. THAT looked like shorts trying to cap the close. Looked like controlled and steady covering this afternoon but only the MM knows for sure.

[trans]

There are no obvious fingerprints on today's trading to really tell IMO. There was a 34K share order sold at market about 15 minutes before the close. THAT looked like shorts trying to cap the close. Looked like controlled and steady covering this afternoon but only the MM knows for sure.

TA, Intra day OBV shows 70k shares accumulation last 8 minutes of trading

[tarulestheday]

TA, Intra day OBV shows 70k shares accumulation last 8 minutes of trading

Thanks for that trans.

I hate to be a broken record but it looks like we bounced right off the EMA 50 day again. If that isn't strong support right now, I don't know what is.

http://stockcharts.com/h-sc/ui?s=IOC&p=D&b=5&g=0&id=p15262058294

[calaban48]

TA, Intra day OBV shows 70k shares accumulation last 8 minutes of trading

Thanks for that trans.

I hate to be a broken record but it looks like we bounced right off the EMA 50 day again. If that isn't strong support right now, I don't know what is.

http://stockcharts.com/h-sc/ui?s=IOC&p=D&b=5&g=0&id=p15262058294

That ain't no broken record to me. It's a chorus, and they were off-key on the first bounce. I am becoming a believer in Technical Analysis.

(An aside: When I first started quoting you from your YMB posts, I thought "tarulestheday" was referring to a "different" T & A, since there were numerous prurient-inflected noms-de-plume in use at that time, So I ignored you then. Belated apologies, since I now have a firmer grasp of the TA to which you truly referred, and I love those stockcharts. Thanks.)

[TxPm]

Ill be very interested to see if RC did anymore buying these last couple of days