This was posted a couple of weeks ago...first pointed out by another poster here. Posted at the time if we had another pullback, $4.50 would be rock solid support. Didn't get a pullback that deep (only got to $4.64) before the launch high. Consolidatation was TEXTBOOK, kids, before the launch. Those who loaded up in the mid to upper $4's are sitting pretty here. Up another 20%+ on this trade. Next resistance zones are there for everyone to see. Enjoy the ride. Cockroaches will try to press here but they are being outnumbered as tutee money finally arrives.
I'll tell you a possibility I do not discount, is an employee of GS calling a cousin or friend at a hedge fund and passing along a hot tip in return for a future consideration of some sort. Without one participant ratting out his accomplice, it would be virtually impossible to trace or prosecute.
I think Ivan Boesky and Michael Milken are/were the tip of the iceberg.
<<You truly believe GS are simply "shrewd businessmen" and don't think they routinely bet against e buy recommendations they give to their clients?>>
That is a bit of a mischaracterization of what I stated. I do not underestimate their willingness to engage in acts of questionable morality. I do question their willingness to act as an underwriter or strategic advisor for a client and then short the stock of that client after seeing the open books. It is just too obvious, brazen, and actionable. It is even more moronic than the FDA chemist trading under his mother's name with his home computer.
You truly believe GS are simply "shrewd businessmen" and don't think they routinely bet against e buy recommendations they give to their clients? You truly believe they they were not a HUGE part of the housing financial crisis (read: how many ex- GS exec's hold high ranking positions in our gov't.. Who let the banks loose to do what they please when it came to qualifying for home loans).
Read the second paragraph, Ernie. Wake the $&$& up and quit kidding yourself. The sooner you realize the true problems this country is suffering from, the sooner you can do so something to fix it and stop the bankster gangsters from the looting.
one more thing:
If you really want to point at bailouts, forget the bank bailouts, as they turned out to be profitable for taxpayers. How about GM! Not only did we bail out a company which posed no systemic risk, we actually really only bailed out the unions. Backruptcy court would have done a better job at reorganizing that company than the bailout. But no, this administration decided to bail out union workers who put the company at deaths door in the first place with $60 billion of underfunded pension libilities and an equal amount of OPEB (med benefits) and job banks which are union welfare. All vor votes. Over $3000 of every GM car sold went to retired employee pension and OPEB costs. This made the company unprofitable and uncompetitive. To take it even further, the administration broke almost two centuries of legal precident by making senior unsecured pension liabilities and OPEB (OPEB usually doesn't even have a deficiency claim that ranks in bankruptcy) senior to SECURED bondholders! First time in history. Law of the land thrown out the window! All for votes from the unions. Why isn't anyone screaming about this! The government will lose billions and billions on the auto bailouts. The protesters should be called "occupy Detroit"! And for the finale, besides all us tax payers that lost in these bailouts of the unions (85% of the country that isn't unionized), guess who held all those secured bonds that got screwed beyond screwed?? You guessed it, everyone elses pension and 401k plans!! (including other unions!) So everyone elses pensions sacraficed for the sake of auto unions which featherbedded and arm twisted an industry into the ground.
Why aren't people talking about this?? hmmmm?? Is the media as corupt and political as the politicians?
I just don't get all the focus on the banks when this is so much more aggregous.
ok I am done venting.
OT: Yeah, those bad banks forced inocent bystanders to run out looking for houses they couldn't aford or taking out HE loans for new cars and boats. I like most of your posts ernie as they demonstrate much wisdom when it comes to science and medicine, but don't get me started when it comes to the financial crisis. This is an area where I have expertise. The propoganda spued by the media and politicians that is naive and self serving, by excluding the root free will of consumer greed which match by wall street greed created a perfect storm which pratically no one foresaw (unfortunately no one really learns from history). Excuse me for venting, but there is plenty of room for blame and it is about time that your everyday voting consumer acknowledge that none of it would have happened without the fact that our fat greedy society is all about whats in it for me materialism. You would think the way it is described (including the occupy wallstreeters) that someone put a gun to people's heads to take on debt.
Everything is share here is only my opinion. I think an arm of GS holds thenmajority of shares short. Speculation only. It's too coincidental that the PPS tanked from 12.00 down to 4.00 immediately following the co. Retaining GS. I just don't buy that they haven't played a role in taking the stock down.
As for the ma's, Ema's are great for shorter term trend changes (ie ema crossovers vs. sma).
There are hedge funds that specialize in shorting, I get that. EXEL has in the neighborhood of 12 million shares short. Some/most of that is hedge funds, I get that too. GS, AIG, BancAmerica, Citi, et al gifted us with a mortgage/housing crisis that burdened the US Government (us) with a debt probably equal to the total cost of Iaq and Afghanistan combined and the deepest recession since the 1930's. Then they got bailed out and repaid the bailout as quickly as possible to regain their bonuses, but only after the Fed subsidized their recovery. I get that too.
But, if the GS execs are anything, they are shrewd business men. They don't crap in their own nest. They regularly engage in ethically questionable transactions, but they do not systematically and routinely short their client's companies with insider knowledge. They are not the mythical single entity you keep referring to as the hedge fund that controls the entire short position in EXEL.
Did you take a look at what goes into computing an exponential moving average? Is it a big picture thing or is it an average that underweights older data?