I have a question. I have been reading all the posts. I am still on the sidelines watching and learning. Please explain how a $.40 cent drop happened in a matter of minutes? Who are the MM's? I think your talking about the major investors?
Did the major investors decide since the price wasn't moving mid day that it was time to sell and took everyones stop loss orders with it? Unbelievable it could take that big of drop in a matter of minutes. Makes me think twice about investing in Joez since I can't invest without a stop loss.
In my opinion, this is only a typical swing trading mode and we are on one of the corrections within a pullback trend. In other words, it's normal; and JOEZ will continue going up but, from time to time, it will suffer some corrections. If you have a look to the 6 months chart the up-trend continues.
There had to be a lot of holders who bought very low and decided to unload and rotate into other investments. After all, this stock won't move until the next quarterly release. Meanwhile they made out big yesterday in banks, commodities and technologies. I hope the CEO can give more earnings guidance closer to the event.
here's my opinion on what happened yesterday as I had gotten stopped out at 2.77 on monday prior to the roth conference.
So the stock ran up heading into news(the roth conference) and overall confidence and momentum in JOEZ, as well as the economy slowllllly turning around.
But after the cofnerence, the stock just sat there not doing much. A sign that people didn't know what to do with the information from the roth conference. So since it had such a huge runup and nobody cared enough about the information given out, it goes back down.
too much psych. buildup to roth conference powerpoint presentation in my opinion. Too many wanting it to be some kind of quarterly call and that's just not what it was. I still think there's people out there who still don't understand that it was a relatively informal "get to know you" gathering. weird.
In my opinion this cause by Stop Loss Chain Reaction. Many to set up stop loss to lock in profit or prevent loss, once it hit the price target, stop loss take place, but in this case many to set up price target to get out.
MM stands for Market Maker. They are the people through whose hands all the trades in a given stock must flow. While it is true that they are in a position to manipulate trades, it is also true that people who are unhappy with the way a stock is trading will claim that the MMs have manipulated the trade to favor the other side.
here's a link to read more