To be frank, I haven't had my game day mojo this week. As a result I have miss timed some exit and entries and MIG was one of them. Reviewing today's trading, it appears to me, that it was a highly successful raid by the CO imo, i.e either brokers or a trading syndicate, and a few retailers.
Perhaps the reason that they chose today to intervene, may have been partly attributable to some kind of market announcement pending???? That would enable the CO to potentially either sell into the news or if there is no update to the market pending, the CO may even just completely back right off the stock so they are not marking it up against themselves.
Alternatively they will go after it hard again early or late, either way doesn't matter and then offload to the retailers hopping on thinking that it will continue higher. Once they the CO have dumped all of their stock, there will be no force to shove the price higher, and it would then fall again, or track sidewards.
So when I get to this point re my mojo, I stop trading and usually head out to the deep blue. Regardless of the weather tomorrow, barring a Tsunami I am heading out with some mates to troll some lures. This always helps me to recharge.
