Runi - Very Interesting about JP Morgan. But no, it doesn't really change my view from a TA volume analysis point of view. This sort of analysis looks purely at volume, spread and price and then applies some very "black & white" assumptions that may not EXACTLY reflect the reality. But there is no real room for "grey" in VSA. Also when we talk about "smart money' we are not talking about fund managers, institutions, or the likes of JP Morgan. We are referring to private trading syndicates, market makers etc who make their money accumulating large amounts of shares for as low as possible with the view to selling them as high as possible as fast as possible. They will generally look for opportunities where they can move large portions of shares quickly without sabotaging entry and exit. So events like Japan are ideal for them to take large positions in oversold stock - and events like really positive news or Insto and the likes of JP Morgan buying, resulting in buying frenzies, are good opportunities to sell high without driving down the price before they are done. Thats why you often see price drive high on good news only to immediately fall back and go sideways for a long time after that. So with volume spread analysis we are looking for "sign" of smart money activity with the view to anticipating their next move. So what I'm saying with AYN is that I don't see "sign" of SM activity in a big way anyway after the sell off. That doesn't mean price can't keep going up - but I'm always wary of price rising on low volume because it is generally vulnerable if any significant selling enters for whatever reason - This last rise hasn't really been challenged yet and now its coming up to its last high. So I would be looking to see if it can clear and hold that high.
