Looking at the lack of volume indicates that the sellers are drying up?? Three weeks of selling and PEP didnt even crack $62...one of the best values now on the blue chip, high div stocks is PEP. Bought more yesterday. I typically just trade in and out of stocks, but I am keeping this position for a goodly while
Good thoughts on the volume. 5-stars for you, cinqolok. Part of those sellers were naked shorts, so they were phantom shares. That averages out over time. The price is stable enough that the big-time shorts have plenty of time to cover as a very slow pace in order to avoid a squeeze, especially because the float is so huge. Volume is still good, even if a little below average. PEP seems to be a little stronger than the market right now or even with the market. I'll take that for the time being. Counting the dividend, which is on its way to me, I'm only $60 in the hole on my shares I bought after the hit on earnings PEP received. If the upward trend continues, it should pay off nicely. I bought about three days too early, but at least I didn't buy four days earlier or I'd be holding a big bag. Ouch.
In other news, shorts may be covering some on SODA, for those that are interested. GLD is really volatile. I'm nibbling on MLPs when I can grab some at a good price like TYN at the open this morning. Trying to get MTP at a good price. I grabbed some junk bonds two days ago and may buy some investment grade (LQD) today. What other stuff are you guys and gals trading?
John, Not trading much now as the market is taking a breather...Unloaded SLB 2 weeks ago and reentered this week, That one is a good trader..also trading VLO, which I am about to unload....looking at taking a position in WAG and AGNC. Thanks for your post!!