You can see from the MiM snapshots that the early read was “a significant sell-side was developing”, that was clearly erasing by 3:20 and in the final tally the MiM moved through neutral to the buy side. That loss of the sell side signal and directional move was the setup for the best entry, a long around 3:20pm into the close that gave about 3 points. For the early birds, the 3:00 entry with the meter and then an exit when the volume dropped below the 150MM number was the exit signal yielding about 2 points.
We have moved 2 days now beyond the strong buying. Today is another day.
If you need more information on the MiM or what to know what a MiM is you can catch up at: http://closingimbalance.com
