Anyone else see that massive dump of shares in the last 3 minutes of trading today? About 73,000 in volume, or approximately 23%-24% of the volume today in the last 3 minutes. Thoughts on what the heck that was? I thought most institutionals had divested by now. Was it a ,assive short attack to drive RGR under its 200 DMA and the trend line?
That's Motley idiocy and ignorant as all he77. Anybody who really follows this stock knows that Fifer has been saying in the last several CC's that he and the distributors want to build up a bigger inventory cushion but that they didn't think that level would be attainable any time soon, with demand what it is. June and July are the lowest demand months of the year based upon historical averages of Adj. NICS for the last 13 yrs, so they may be actually putting some guns on the retail shelves now.
Dear je - The organized shorts (a hedge fund) sell to the whole bid-ask book establishing lower and lower prices. They do this when the good-for-the-day orders are sparse - at the open and the close. This minimizes their cost. At the 7/16 open they continued the process sending the stock to about $48.50, where its stayed more or less. Its my guess as to what's happening.
If they are pushing this down prior to the earnings run, I see a possible support trendline on the hourly chart in the area of $47.75 - $48. They might not be able to get it lower than that.
Yes. I also see a short-term uptrend for RGR based upon the trendlines. Bottom trendline support is at 48 right now, drawing it from the 6/13, 7/3 and 7/5 lows. They'd have to break that bottom trendline at 48 and next stop would be 47. This might be traders playing the channel as we uptrend. Tomorrow will either test support at 48 or start the oscillation upwards in the uptrend channel.
Just some desperate manipulation because the shorts know time is running out. They will be covering quickly at the open to minimize their losses and this will be back at $51 by tomorrow.
Sentiment: Strong Buy
Yea, a $7.4 million order on a down day like this? Any reasonable institutional investor would sell into strength. Retail isn't going to sell that much, and even if they were it seems odds to do it in the last 3 minutes of the day. Suspicious stuff going on.