PRECHA : Classic example of a low budget ramp.
March 17, 2011 1 Comment
The one minute chart of PRECHA is posted as a perfect example of a low budget ramp. The first 5 minutes of the afternoon session say more volume enter than has been seen for ages, and from 14.35, it was all down hill…as the market maker off loaded this obvious ramp.
It will probably go back to 1.03 Friday, and we would not be surprised to see it hit 1, or even a tad below.
If the MM has another go today keep in mind that a) this is a low budget job so it will not last long, and b) if you get stuck it could be in the portfolio for a month of Sunday’s!