I have drawn a couple of very basic charts showing MY...

I have drawn a couple of very basic charts showing MY interpretation of what is going on at the minute.

The Smart Money ((SM)call them what you want), have sold off some shares at the top a couple of days back, and now want to buy back those shares if possible, for a cheaper price.

Even they cannot move the market significantly on there own, so they have to go with the general market sentiment and sometimes work together if other syndicates are also in the stock.

With the recent downturn there is no strong buying pressure for Exco, so they get the chance to sell a few more shares, bringing the SP down if possible, to make those recent buyers a bit nervy, with the hope they can buy back the shares they sold on the cheap.

I know not everyone will agree with my interpretation of what is going on, each to their own, do your own thing etc.

...and dont worry the SM are also there to make money and will be right in there helping the SP to rise when the time is right, then they will also sell to the retail buyers again, at what they see as the short term top, so if you want to sell a few shares at some point watch for their movements and do what they are doing.

The first chart shows some interesting points in the recent Exco Chart.
The second chart has some support and supply lines showing where the SM might try to buy back some shares.

Chart 1

Chart 2

cheers