If the stock had a 10-1 split, that would be a 51.86 - 55-33 move and no one would notice. Of course it's manipulation that drives the volatility at this point. Traders are just along for the ride and are probably the ones making all most of the money, although I completely sat out yesterday waiting for the dust to settle. Stock fell into a very nice channel this afternoon (~544 to 549) and that yielded a nice opportunity and a comfortable profit. I've completely given up predicting where the stock SHOULD go. It should be on the way to 700. Maybe it never will. I don't care. I watch where it's been and going right now and trade accordingly. And I never hold a trade over night. Thats a true gamble and all the predictability about Mondays and Fridays is out the window. Stock rises and falls on the same news, on no news and on imagined news. I just watch it's behavior and try to characterize that into income.
No one may notice a 51.86 - 55-33 move on a small cap company but definitely not the most valuable company in the world.
That kind of move suggest a market cap change of ~32B?
Now there's some analyst saying this will tank another 20% because it moved up too fast?
Where's all the logic in the market when you've got PCLN moving as fast and AMZN with obscene P/E?
How many retail holders do you think got stopped out at 520 just to watch it reverse? Pure manipulation and blatant thievery. I had asending buy orders for 530, 525,520,515 and 490 but no stops. I am slowly learning how to play this game.This may be the only way to beat these guys at their own game. Too many times I was on the other side watching stops get taken out....never again. You wanna play hardball??? BRING IT.
I used to try to do straddles on it with the weekly options but alot of the time they would lose too much premium overnight unless it made a really big move so I have just started trying to trade the channel using bollinger bands. I did pretty good with that the last few days. Hope I can keep it up because it's hard to make any money otherwise in the market right now. Do you use bollinger bands?