The MM's were trying to hold the pps above $6 at the close, why is anyones guess. I'm thinking they wanted to catch all the $6 and $5.5 stops in the panic just after the market opens tomorrow. If premarket shows the pps below $6 and it opens lower the $6 stops go as soon as the market opens and the selling from there should take it to $5.5 quickly when the panic selling starts. If you have a stop in between $5.5 and $6 you're adding fuel to the fire!
Dave, I think you've got it ass-backwards. They tried vigorously to pull it UNDER $6 --THREE TIMES (Dec. 8th, yesterday and today) and couldn't.
I COULD be wrong but I think the big boys are NOW going to put the screws to the shorts and squeeze some cash out of them. JUST LIKE THEY DID LEADING UP TO THE FIRST PART OF DECEMBER. The shorts got hammered during that period. Fun to watch! ............................................
"The MM's were trying to hold the pps above $6 at the close, why is anyones guess."
They got close today at 6.1. I don't put much value in afterhours prices unless the volume is there. At any rate this one is like being at Vegas. Black or red on the wheel. Can't wait until tommorow to see where the ball lands. I think the key is being able to react and adjust your positions when it does land
Dave anything below $6 by close of business sets up an inverse shorting scenario, in that margin requirements for the strapped not only proceed from the loss of value, but because below $6, there is a higher margin requirement by most brokers.
An under six scenario--six will get you to five in a heartbeat