A holy gash darn permit is given out (I take it all back), the stock soars, volume is gineormous . . . and it falls all the way back down to close about flat. I've seen some strange things in my time, but this takes the cake. A selection of flavorful marmalade sachets to anyone who can explain this . . . logically.
Algorithmic trading rules may require selling after spikes. No human is present in such selling.
I have programmed these in my trading as well. But today I had human control over the directives. If I was gone, the system would have sold it all on a decline from the spike or at the spike depending upon percentages and time factors involved. It is rather complex.
Yea I saw it.. I waited till last 10 minutes of the day to buy the sock acted poorly the last hour.. which in my opinion was just held back from black box traders. Plus it's option..things get silly.being put the stock, shorts running to cover.. etc. What sux is that if we gap down monday the after hours won't matter but I think this stock has 30 written all over it. Ps nothing makes sense sometimes.
I sold my 20 march calls for .05 with limit order which was not good, but if I just did nothing then could have loose all. It is not good when mm acts to pull price down on option expiration day. Option is not for regular working people. Now again it is up in AH. Anyway I have 1k shares to which I will hold till next year.
It's easy. I had bought a handful of march 18 calls right after last opex and sold march 20 calls a week or so later, putting me in it for about 40 cents a share to make $2 a share if it worked perfect and closed at 20 today.... I gave up on the mar 18 calls at 2:55 today because I had to leave and sold them for about 12 cents a share. Get back home at 6:55 and find that 5 minutes after I sold, news came out and it spikes to the low 19s, which would have had my mar 18's at 10x what I sold them for. oops. That suddenly became a more expensive shopping trip I made. SIGH, lol thats life.... That, in a nutshell, explains part of todays action.
This stock has behaved like a lava lamp as long as I can remember... big chunks up or down unexpectedly with no rational explanation at times. I've been in over a year, rode from low teens to 23 plus and
(a bit embarassed to admit) back down to 8 and change, post BP (bought more thankfully. I think a lot of folks here feel snake bitten by this stock and many have run for cover with Mid East strife compounded by Japan, scary fuel price fluctuations etc. I am quite sure many are choosing to sit on sidelines and wait a bit. I bet a good portion of investors are feeling ready to climb back on board the ATPG train as the dust begins to settle and ATPG finally begins to come into its own. I see ATPG as a battle hardened warrior. This company refuses to give up, look back or be stymied by the powers that be. It was so exciting to be here when ATPG made the big run up (pre-BP). Many dedicated longs have faith in what this company is capable of. A lot of folks here may not even know that ATPG at one time had a buy out offer in the 40 dollar range and refused it. Call me stubborn but I think $40 will be a minor speed bump when this company kicks in to high gear. So, why the crazy moves? Ther are so many different factors at work here that are motivating prospective buyers and sellers alike. As more oil comes on line though, buying this stock will be a much easier decision to make for those who are interested but have little stomach for beta #3 stock price gyrations.
Well ... at the HOD ATPG was 25% above the lows of Tues morning. That's a big move in 3 days. And I think the downward pressure has spooked some longs who after seeing it nosedive to $15 were happy to be able to take some/all off the table at $19 just a few days later. And then traders who bought this week too played a part.
But next week will be the real test to see what happens. I am going on the record saying that I think we could move over $20 on Monday. And then straight to $30 from there would be nice. Lol. We'll have to see about that part though. ;)
I want to add a couple more thoughts.
People who run money are going to feel better about ATPG now than they did yesterday, period. There will be more institutional buying because of some clarity and more confidence that production is on the way. The sun is going to shine a little brighter. Hopefully that will be reflected in share price. Does the market price this in ahead of times, sometimes it does and sometimes it doesn't. I vote it is not all in!!