Barb did you notice how PMTC went up 3/4 in the last few minutes today? A huge move considering it is a $14 stock. CD did the same thing going up about 7/8s the last few minutes to close up 1 1/2 at 17 and change.
Did you also see how SBUX gains for the day were entirely wiped out the last half hour? To me this is extremely bad news that the stock still has lower to go. Lets see what is gonna happen at the opening. I am seriously expecting a SBUX decline tomorrow.
If you are talking about ChanceDelaney, some think he is pretty good at calling the market. I think his reputation as a market guru is spotty. I don't take issue with that though or blame him in any way, because I don't think anyone can call short term movements with any consistency.
If they are talking about me (Adam), they all think I am a jerk because I keep bringing it up when ChanceDelaney has been wrong with his day trading and market calls.
I believe you are making the right move in eliminating your full service broker. However, if discover doesn't let you set limits, I'd pick a different online broker. I trade online with Schwab but pay a commission of $29.95 a trade. Chance and others have recommended other online brokers with lower commissions.
Didn't mean to sound like a day trader. I'm bottom fishing also. For me the daily guessing is injecting some lightheartedness into what is definitely a gut wrencher, whether you bought at mid 50s or are looking for an entry point. Am I being inappropriate?
If you believe the Motley Fool, the bottom is mid 30s. Personally, I think that is overly optimistic (pessimistic?). Hope you find the bottom. Forgot to check my e-mail re investment club. Thanks in advance.
Are you all trading with full service brokers? I have a full service broker and also trade on line with discover brokerage. The only problem with online is that I can't set limits or at least have not figured out how to yet. I am tired of the cost of a broker so am going to change everything to discover. If any of you think this is the wrong thing to do please post and let me know why.
Chance, I'm guessing a closing price of 44 1/2 after a very brief rally tomorrow morning. I agree with you, the fact that SBUX has failed to hold the last two days of rallies is very ominous. Someone big is selling, and this is so far out of line with the usual trading patterns that I can't help but to wonder what is around the corner. Hopefully not a cockroach crawling out of the closet. But with a valuation like this, if they announce that expansion or earnings growth may be slowing the sky will fall in. Hope that doesn't happen.
Noticed that PMTC rally this afternoon. After trading 5 million shares in a narrow range of 14 1/8 - 14 1/4 it suddenly popped! I'm thinking either a sucker's rally (if so, we'll see a retracement tomorrow) or more optimistically, a big day tomorrow since the selling pressure overhead is temporarily off. Before the rally, lots of 10K and 25K blocks hit the bid side without moving it. So maybe the market makers were accumulating. The late day rally was done mostly on 1K-5K blocks on the buy side.
Chance, I guess I will call today a draw. Up until 10 minutes from closing I thought we would get over 47. I must admit that I am at a loss to figure out what will happen tomorrow. You could be right, but I am having a hard time believing that it will break its' 200 day avg. support at 45. Would you please explain to me how and why the MM would take the stock down further. This is a very liquid stock that is still rated a strong buy by more than a few large brokerages. There is not another shoe to drop. No more help from Casey. Money is moving around like crazy from stock to stock. My guess it flows back to Sbux sooner than later.