Al_Dente wrote:last five days: gains were all in the pre-market, then selloff near the open. here's proof (gray area is aftermarket and pre-market)
Excellent observation (and graphic), AD.
This is a classic pattern of institutional selling. They run the price up on light volume, then sell into the elevated price and the greatly enhanced volume levels at the Open and shortly thereafter. Then during the day, when volume is light, they let bullish Mom and Pop float the market back up. This accounts for the pattern Cobra has been highlighting.