Vol

There was a short squeeze and this created the sudden rise in price. When the shorts completely covered, then there was a lack of buyers, but not a lack of sellers...
 
I recall instances during the later stages of a stock bull market when price breakouts do not show much continuation. Sometimes I remember buying at a new record high price and selling at a higher price three days later.

In this case the price advance is big, about 25 % in three days (price rallys from about $ 50 / share to about $ 64 / share) with very great volume. The pattern might be called a "climax top".

I recall Jesse Livermore: When trading on a large scale you have to sell when you can, not when you want to. If a trader can make 20 % return on investment in three days and the demand is strong enough to purchase all his/her stock without reduction in price then it might be wise to sell.

I do not trade that way but some people might.
 

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I was attributing it to short covering, but this makes more sense.

I do feel like we are in the late stage because the classic signs are right there. I've seen quite a few stocks that have been on the winners list only to appear on the losers list a day or so later. During the fall months, a stock like this would pop and then just keep going. Now these poppers are falling back quickly.

I have this picture of multiple traders around the country looking at a stock screen and waiting for something to pop. Then jumping aboard and unloading as soon as they can.

Its as if everyone knows we are at the end and trying to make that last bit of money before things go in reverse.

Quote from Hook N. Sinker:

I recall instances during the later stages of a stock bull market when price breakouts do not show much continuation. Sometimes I remember buying at a new record high price and selling at a higher price three days later.

In this case the price advance is big, about 25 % in three days (price rallys from about $ 50 / share to about $ 64 / share) with very great volume. The pattern might be called a "climax top".

I recall Jesse Livermore: When trading on a large scale you have to sell when you can, not when you want to. If a trader can make 20 % return on investment in three days and the demand is strong enough to purchase all his/her stock without reduction in price then it might be wise to sell.

I do not trade that way but some people might.
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