I'm pretty much a buy and hold type of investor...bot PAAS about two months ago in the 3.85 range......
the trading today and the big volume was done during the first half of the day, the decline down was seemingly quick on not much volume.
I hear people talk of the market makers walking a stock down to take out the small stop orders, is this what happened today?
"San Jose, California-based Cisco, the largest maker of equipment that powers the Internet, said it inadvertently told a``large'' number of employees the company exceeded its goal for booked orders for products in the quarter ended Jan. 26.
The surprise disclosure, made hours before the company was due to report quarterly results, boosted share prices as much as 4.1 percent before paring some gains. Cisco's stock was up 25 cents at $18.75 in midday trading on the Nasdaq."
Rather like Reagan's announcing his plan to run for re-election at the AmWay convention.
<<``We had a very good day yesterday,'' said a senior bank official
with knowledge of the bank's bullion trading operations. >>
Well it certainly will be difficult for Congress to subpoena that senior bank official, since Reuters refuses to report his or her name.
"JP Morgan says suffered no gold trade loss
NEW YORK, Feb 6 (Reuters) - J.P. Morgan Chase & Co. on Wednesday squashed rumors in financial markets that it sustained a loss during Tuesday's powerful gold rally, saying instead it made a profit on gold's run to two-year highs.
``We had a very good day yesterday,'' said a senior bank official with knowledge of the bank's bullion trading operations. ``There is no truth to the rumor that we have a short position in the market, and I don't know where that came from.''
He emphasized, ``We did not lose money.''
I heard that piece on the radio this morning, Japanese people going with bags full of money, cash being the preference, to 'gold shops' to buy bullion to take home.
Moonlight is not so brazen and obvious, but subtlety and stealth can be just as potent.