I might be with you brother, but right now I'm short APCC, a lot of speculative buyers jumped into it thinking it will be bought, looking for it to fall big.
My guess is KNOT will pull back, into a handle for at least a week or so.
The end of Sept is normally a very weak time for the market, with pre-announcements (which I think is a easier way to pick up some quick money), and this is a mid-term election year, alot of uncertainty. I can just hear the committed longs saying the election year has ZERO to do with KNOT. Don't think they (big investors) won't sell KNOT as well.
Soon as I clear my short on APCC I will look at KNOT. Although I still expect KNOT to clear its buy point of 20.90 in the future.
This pig over ate again. Shorted 5000 shares at $20.44 today. Been on this ride 2x already---this is too easy to resist. There is simply no reason that this overpriced pig should have moved over 20. Soon it will be back sub 17.
Reason was retail short with no balls getting caught with stops that kept feeding and feeding. Then, stupid retail longs got into the action thinking JMP is JP Morgan of whom I'd take neither's "buy", "overweight", whatever published recommendation.
I got out of discipline and shot a short to early at $18.30. I'm going to double down Monday and make some money next week.