Well, Amazon posted 45% decline in profit, & went up.
NFLX makes secondary offering, two insiders have dumped their shares in the last couple days, one dumped yesterday 45,000 shares, and their debt got downgraded to junk status, and it goes up.
Black is white, & Up is down.
This morning, I was up $5 on this, and thought it would drop another $10. Now down $9 after hours after multiple bad news reports.
I can't understand it, except to say the 110 point reversal in Dow caused another short squeeze on extremely light volume.
You saw it yesterday drop from 177 to 162 on no news and high volume.
Today it goes up from LOD of 156 to 169 on low volume.
Insiders are dumping as fast as they can, but retail is buying.
It's just plain crazy.
I am still holding 250 shares short.
Tomorrow is another day, and waiting to see what craziness happens, but am pretty disgusted @ these idiots who keep buying when insiders are selling massive amounts of shares. More insider selling will be posted tomorrow, I'm sure.
The only sure things in the market are that UVXY & VXX & TIVX continue to go down over time. Even if they spike on a market pullback, they always go back down over time. We should have been shorting those today. You actually had UVXY short shares available @ Scottrade yesterday and didn't take them. I would kill to get those:) They are like gold.
Sorry, I didn't respond earlier. I have been sick, & passed out from medication before the market even closed. Saw the Amazon news when I woke up. Just going over my Yahoo portfolio stocks now (100 of them) to look for opportunities for tomorrow. I still like to short BTU here, and am watching RIMM closely, hoping that it spikes on BB10 release tomorrow, so I can short it. I have been making money on that every day, along with UGAZ.