why can't we go above $38. seems someone put a cap on it. anyone has access to more detailed quote to find out who keeps selling at $38..i am pissed we can't go up while other stocks upupup everyday.
Thank you for your very professional answer.
The Bank of England does have a huge fund responsibility. It is clear that the latest Fed 0.25% rate hike did not disrupt the market like the last one did. I had no idea that such powerful tools and linkages were needed (and are used) to manage the stock market, money market and the overall economy.
Here is my take.
This week, the Senate Finance committee's probe into the SEC's inability to manage Hedge funds .. might now need to ask the SEC to explain the graphs shown below. Stock price manipulation appears to now be taking place on 2 key growth stocks.... Corning (GLW) and Cameco (CCJ)� Prices are changing in near �lock step�.
See: yesterday (June 29), the last 5 days and the last 3 months.
Price movements appear not to be random. Are the price movements "manipulated"? A powerful buy-sell computer program would appear to be operating to force these �similar price patterns� to occur.
Yesterday, June 29, 2006:
The last 5 days:
The last 3 months:
I have watched the price movements of Corning and Cameco every day for the past 6 months.
I think stock price manipulation starts with an unexplainable "suppression of the price for several weeks", in what is termed a "price consolidation". This is a sideways price movement not warranted by company announcements of exceptional growth in both sales and profits.
Are there powerful funds .. manipulating the market prices for the purpose of generating profits (at the expense of a fair evaluation for registered/listed corporations and the novice buyer). To find out, a record of all funds and their trading customers is needed ..to identify the culprits! Does the SEC do the right thing?
Are billions in profits now being generated for funds � by creating profitable short-selling windows of opportunity for the large, powerful funds?
If so, will the SEC stop this? Is it time for the Government to step in?
Too often, listed companies have to �buy-back� their own stock. IMO, the SEC does allow the devaluation of stock value and plans to do nothing about it. I think that fair market pricing does not exist!
IMO, the Senate Finance committee should require that all traders and buyers be recorded .. to find out who is engaged in "price manipulation" and unreasonable "price suppression".
IMO, the SEC should be forced by Congress to protect the novice buyer who wants to own a growth stock, and the company that needs a fair market price as a source of capital.
Is the SEC going to indict the Bank of England as being in collusion with the Hedgies, courtesy of the Fed?
Pick a metals stock and you will find that CCJ traded with the sector the last month and a half. I've seen stocks tick up or down, and within 2-3 seconds the DJIA followed suit. Yes there is program trading going on. Shouldn't be a surprise.
The good news is that the commodities were crushed, the Fed has temporarly claimed victory, and one can look forward to the commodities and associated metals stocks to recover. How long will they recover? When is the next Fed meeting- and you will have the answer. You don't fight the Hedgies, you play along.
Clearly, "deep pocket" short sellers, feeding off this stock, actually rule the market price! Short sellers know that there are limited buyers following good news releases to provide an upward price movement, but this is just what they want! ....just enough buyers for short sellers to get the required uptick they need to fill their sell orders.
As we all know, the SEC is responsible for making a reasonable market for this stock, but instead the SEC makes a market that allows "churning for profit" by greedy, heavyweight traders. These heavyweights have the power to freeze the price at a set upper value near $38, with a P/E near 70.
This dominant selling pressure by the bears also makes it impossible for the management of CCJ to sell their internal capital stock at good prices needed to raise new capital for expansion and growth.
The SEC itself needs to be investigated by Congress, for failure to make a reasonable market for the stockholders and CCJ management, and to recognize a job well done.
Imagine Congress calling the SEC to account for their bad management of the capital stock market... allowing blood sucking traders and hedge managers to skew and rule the market. The capital, long term needs of CCJ and nuclear power are not served by the current SEC rules.
Higher stock value should be possible to help fund the nuclear industry. But this means stronger SEC rules are needed against massive trading and hedge fund short and naked short selling actions. The SEC needs to make the hedge and trading folks get a real job!
Again, great question!
its simple: greed and fear.....
i kinda controlled the market on thursday selling, buying.... selling then bought my whole position back at the last 15min. i made a decent profit. i didnt do a damn trade today cause i bet the reward will be much bigger next week when ccj makes a new 52wk high. theres always a time to fold, check and do a all in....