liv this morning you said something about being "very happy by Thanksgiving" Is this a genuine Thanksgiving happiness related to food, family, friends? or a happiness related to good news on pamc? or a basic "i don't know what else to say so have a nice day" kind of happiness.
I think it's quite likely that today's trading had little or nothing to do with company fundamentals, etc. and everything to do with unwinding the large call positions from Friday at the 17.5 - 25 strikes.
I no longer have the open interest sheet where I can find it but I believe that quite a few of the calls at 25 and under were probably exercised, possibly as a "look see" to see if there would be news today and when there was not, the shares were put up for sale.
There has been significant block trading in the past four sessions, including a 25k block today. The market makers have taken in a lot of stock fairly close to the recent high. In the recent past, such as on the move down to 13, they have been unwilling to bid and sellers have been forced to take unreasonably low prices for their shares.
This activity is likely to continue though, as long as there are people speculating on news and that news is not forthcoming.
a ton of postings re "big news coming" and no news shows up. I do not know to what extent the stock price is affected by this constant barrage of "big things just around the corner" postings, but I am beginning to suspect that these "pronouncements" are fluff, hope and hype rather than based upon fact or knowledge. I'm tired of seeing my profit position eroded everytime there is a run-up.
Perhaps non-performance is one of the things driving us down. You know, like Wellpoint signing on and they still are not up and running. Same with Aegon and most of the others. Now Aetna. How long before they get on? My fear is that most of these companies will eventually end up going away because they see other companies pulling out ahead and nothing being done with their supposed position with this company.
If no news by Friday's close, I will look for a slide back to 13 by the end of the year. My final thought: THIS IS THE INTERNET - MOVING AT THE SPEED OF LIGHT! OK, MAYBE ONLY THE SPEED OF ELECTRICITY, BUT CLOSE ENOUGH. HELLOOOOOOOO!!!!!!