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Message: RE: anemic volume..did everyone get the tax loss selling out of the way

RE: anemic volume..did everyone get the tax loss selling out of the way

posted on Dec 13, 2005 07:02AM
I have revised my thinking on yesterdays action. At first it looked like a classic year end tax selling. However there has been no follow through today, nor was there any increase in selling prior to yesterday. So I have to think yesterday was a basic broker/MM ``pick off``. Meaning there were stop orders in to sell at $.06 to $.08 and the ``boys`` drove the price down to pick off all those stops. I have seen this happen many times and the clue to it is the way the stock bounces back immediately and has no follow through on next days trading...Note the volume today...zilch....If there is any year end tax selling it seems to be taking place quietly and without huge volume.

Just my educated and experienced opinion of course.....Frank

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