Friday, July 8, 2011

Rio Alto - weird stuff

I'm an L2 junkie - always watching it for anything that I can delude myself into contextualizing as some sort of intel.

Today I'm seeing a raft of 25 iceberg orders on RIO, gobbling up shares. These guys aren't bothering to sit at $2 and catch the shares that fall into their lap anymore - they're rolling the price up like a tube of toothpaste. Slowly though. We're up to $2.08 and I'm suddenly liking my far-too-large position in RIO again.

I watched something similar over the past couple days with BTO, and as a result we got some price strength (which is done with today, it seems).
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2 comments:

  1. I wonder if it was actual human beings or computer algorithms doing the buying.

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  2. I doubt they'd waste a HAL9000 on a Venture stock.

    No, it's people. You can see on a day like today, where all the liquidity has gone away... they're trying to let the price drift back down to $2.

    I mean this might sound like conspiracy thinking... but really all it is is psychology, right?

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