The Three Skills of Top Trading by Hank Pruden

Author:Hank Pruden
Language: eng
Format: epub
Publisher: Wiley
Published: 2011-01-05T00:00:00+00:00

Springs or shakeouts usually occur late within the trading range and allow the market and its dominant players to make a definitive test of available supply before a markup campaign will unfold. If the amount of supply that surfaces on a break of support is very light (low volume), it will be an indication that the way is clear for a sustained advance. Heavy supply here will usually mean a renewed decline. Moderate volume here may mean more testing of support and a time to proceed with caution. The spring or shakeout also serves the purpose of providing dominant interests with additional supply from weak holders at low prices.

Note: A series of SOSs and LPSs provides good evidence that a bottom is in place and price markup has begun.

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