I followed them for about 9 months now ... you could tell the stock was just getting too low - I don't really understand the company too well or have even tried the product - I just know that they are extremely hated by wall street and always have a ton of shorts - anytime it has dipped below 30 I buy it and make money - Dumped it at 36.5 - it will probably go above 39 tomorrow ...
S&P futures pit in Chicago. Where the freemarket is still alive and well. I get the live audio and a market cast; guy calling the action like an auction or sporting event. The traders there are yelling, waving hands, buying and selling, you know...keeping it real. This is where only the BIGGEST money trades.
The futures close 15 minutes after the cash close. The cash market being the regular session stock market.
Goldman Sachs and Solomon Bros. came in right before the cash close selling big. The locals were buying it. The locals are traders; the middlemen. Goldman, Solly, Merril, et al, are "paper". Paper can sell to Paper but most of the time they go thru the locals. There is also "Retail", smaller brokerages, but not as big as say Goldman Sachs, or Solomon, Merril, etc. Paper trades for itself and the super rich; retail probably more for their very rich clients.
Since the futures are open 15 minutes later the locals bid it up and sold some off into the pit close. But I doubt they sold it all. So the locals are probably net long.
Why do I think its a bear market. I don't, not yet. But it's coming. I am bearish for a lot of reasons. The rest of the world is already in a bear market.
Well there ya go, missed on Revs. should find support at 646.
Bear Market no doubt; all the news is bad news.
Heavy selling in the P's pit into the cash close, Goldman and Solomon big sellers.
Well, I was short a little LULU, but got stopped out....too early....dern cult stocks.
On 30 min: comes down hard, back up weak.
Do you think it's time to try shorting here?
Or are you long?
It'll probably test that 70.88 level again. I dunno, easier stocks to short.....just too many LULU monkeys and they all read IBD.
Watching the dollar here, might go vertical up, might buy some UUP before the cash close.