It's actually .04 lower than close on Tuesday when I wrote about hoping it doesn't gaive back all the gains it made that day on positive news. I am a covered call writer and this is a dream stock. I actually knew it was going to give back all the last 2 days gains.... it is total manipulation, just like 80% of the stocks on Wall St. I employ 'drafting'... using the hedgies and the big funds to pull me along.
yeah, I know and that doesn't bother me at all. I take that into consideration for myself. However a lot of individual investors don't understand that and it irks me to see them taken advantage of so crassly. I dont mind trading based on individual assessments, and intelligent people can differ in their interpretation AND have different perspectives on the length of time their trade is for.
And of course you make money because the dream stock is volatile. Volatility is MONEY !!!!!!!! I like it too and make a lot when the vix soars. And when you said you hoped it didn't give back all the gains on good news on tues, it closed at about $37.85. Hasn't given back any, still there, just moved around a little. And as I pointed out elsewhere, up $2 over past 6 weeks. So, it's not a money maker for LONG TERM shorts. Just people moving the stock make oodles. And LONG term LONGS from here on from $36-38 bottom.
I understand... but hanging around $37 when it should be dancing around $45 doesn't instill much confidence for the long run. I will say that the upward potential far outweights any more downward pressure. Love to see $40 by options expiration on Friday.
It will be dancing around $45 before the end of the year. Isn't that a great excuse to buy now at $37. It's been dancing around $37 because of heavy shorting. They really headed for the door didn't they? I still stay it's a bottom between $36 and $38, like I said a few hours ago. It may get to $40 by options date, but I dont do options. All depends on when the shorts expire in their endeavor to make money on FRX. My time horizon is 3 - 6 months.