OPK Chart Conversation

I've been coming back to this off and on the last few days. I have very rudimentary skills reading candlestick charts. But looking at it, it appears that the volume spikes are on the way up. And on the way down (red candles) there is less volume.

Is this indicative of someone trying to fill a large position? Or just momentum traders jumping in when they sense it will move 5-7%?

Now you have me looking at this candle chart intraday. I note that every dip today starting around 11 AM (post rumor sell-off) was met with a steady stream of green candles. Big red ones to sell it down, followed by steady green to go back up. Interesting.  Not sure what to make of it yet...

Somebody's going down the rabbit hole.

There are a few things, probably more than I can think of off the top of my head that seem to prevail in the best and worst of market days.

1) Every damned thing you can think of about predicting the future has been coded into the algos. And all the algos are preyed upon by other algos. Think sharks eating sharks.
2) More times than not early activity brackets the rest of the day (absent the FOMO anticipated "news" that seldom comes.
3) Volume is supposed to signal which way the stock goes, but not always.
4) The more information your choice of stock charts and indicators reveal, the better your chances are of beating the Club who have spent hundreds of millions $ erecting microwave towers, even drilling holes through terrain just to gain a nanosecond of advantage with their fat pipes.
5) Given that, we are all certifiably insane.

But it is better to be David vs Goliath with a sling and a stone than to be David vs Goliath with only ones nether parts in hand. And all of that really just applies to traders vs investors.

Investors can use T/A to help decide when to enter, whether their F/A analysis means squat to the stock's future. Whether larger capitalized forces have an agenda not related to the stock vs company. And so on.

Bottom line, it's a jungle out there, and we are at the bottom of the food chain.

No, that's not a hammer. A hammer looks just like a hammer. Hammers can be held head up or head down. But they all have one thing in common to hammers. There is no appreciable point at which the Hod or the Lod sticks out prominently above or below the head.

Since you are making an attempt to delve into some things TA, I might suggest, never mind, they have gone $ barrier (pity). Well WTF, you could buy books, or you could just see what they want for their Chart School. In a past life, I've sent many inquiring minds to Stockcharts.com. Been a while since I've checked them, but I will say what they once offered for free was well worth it. I suppose they learned they were giving away the store.

In this age of "free sh!T", I am reminded of the old saw, "If you think education is expensive, calculate the cost of ignorance."

It's just up to the individual. Nothing there is going to be the Golden Fleece, but many things there will be worthwhile IF one is seriously interested in TA (right Highskier?)

But if you would rather invest in books, I think I still have a reading list somewhere. Well, I have some on my shelf.

I don't know what you are talking about...This looks like a hammer to me.  And doesn't have anything appreciable above the head.  Oh well, looks like I have some reading to do.

No, you just have to take another look at the candlestick you ID'd as a hammer. You obviously know what a hammer looks like, perhaps you just ignored the fact that the one you called a hammer had about as much sticking up from the "head" as was sticking down from the head.




Does that resemble this?



While the "real body" (the open to close portion) is a little too fat for my taste, some might call that a Doji. Well, it's not, but it's closer to a Doji than a Hammer. And some might call it a "spinning top" as in the child's toy, but I wouldn't. It would be kind of unwieldly for a child to set spinning.