on URG, here's the market depth chart, as you can see there are
a lot of offers to eat up at 1.49, once those are cleared out,
there is not much until 1.79 - 1.8 where the next batch of sellers
are, so if URG can clear the 1.49 - 1.5, it could move up quickly
to next level
that 1.49 has to be cleared out. Clearly there's a seller
there who is not showing his whole hand and has a larger position
to sell then what he displays
This common on Level 2, it's kind of like playing poker, you get
a big seller, say who's selling 50K shares but only shows offers of
5K at a time, then when its taken out, he throws up another 5K, etc
until he finally sells out. However once he's finally done
selling, the stock will generally pop if volume is good.
That's how to use use Level 2 when playing breakouts, look
for big offers that also match resistance,
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URG trade idea
Posted by matt on 2nd of Nov 2010 at 02:20 pm
super scalper, huge volume, resistance is 1.48 - 1.5, there is a big offer at 1.48
Thanks Matt, i'm in for
Posted by frtaylor on 2nd of Nov 2010 at 03:52 pm
Thanks Matt, i'm in for the ride.
on URG, here's the market
Posted by matt on 2nd of Nov 2010 at 02:30 pm
on URG, here's the market depth chart, as you can see there are a lot of offers to eat up at 1.49, once those are cleared out, there is not much until 1.79 - 1.8 where the next batch of sellers are, so if URG can clear the 1.49 - 1.5, it could move up quickly to next level
urg
Posted by fixdgear on 2nd of Nov 2010 at 02:33 pm
that 1.49 has to be
Posted by matt on 2nd of Nov 2010 at 02:38 pm
that 1.49 has to be cleared out. Clearly there's a seller there who is not showing his whole hand and has a larger position to sell then what he displays
This common on Level 2, it's kind of like playing poker, you get a big seller, say who's selling 50K shares but only shows offers of 5K at a time, then when its taken out, he throws up another 5K, etc until he finally sells out. However once he's finally done selling, the stock will generally pop if volume is good. That's how to use use Level 2 when playing breakouts, look for big offers that also match resistance,