The market was up 500 points and oil rose close to $5 before the pull back. ATPG was down! Now tha the market is heading lower today and oil is down we are even lower. This stock is pathetic sometimes!
Right now atpg is being traded like Telemark is being pumped with a hand siphon. I cant imagine what management is thinking right now. It looks like this stock is doomed whether the market goes up or down and the same with oil. im guessing we will be testing the low 9's or even 6's again soon.
It's all about the FED now the rest of the week, a sniff of QE3 and oil and stock will go higher temporarily at least.
I think they'll do it, if not now, soon, though I think it matters little as low interest rates don;t matter, it's access to credit. But WS will be happy with a QE3 for a short time anyways.
If they do nothing or hint at nothing then short term market crash.
I think last week's runup was anticipation for some kind of Fed action, bond purchases, some level of QE3. What's holding our economy back is not, in my opinion, interest rates or even available credit - it is lack of demand and extreme political uncertainty, amidst a backdrop of a very wobbly Europe.
We'll come out of this this funk (think 1979, that's what it reminds me of) after the 2012 elections - it may indeed take that long.
I agree.......today and any subsequent market drops we always seem to participate in........but in the rally all last week we were essentially flat........be easier to absorb red days if we, too, went up on green days!