The last eight trades totaled 29,800 shares and were all buys. Based on looking at other finishes like GM whose last two major trades totaled 48k and others I'm slightly positive about Monday morning. Last night at the bell it didn't look good for ATI.
thats ridiculous...who are you kidding..every single stock that had a buy imbalance for the close had it wiped off..meaning that people just jumped on the chance to sell some 15 to 20 cents higher. ATI had no bounce all day...just sellers selling. The sellers aren't going to kill the price at days end...they want the knife catchers to get emboldened. So they just keep a lid on it sellin as much as they can without scaring all the bottom fishers. They know they can buy back much cheaper because they'll be back selling on Monday. Knifecatching is a dangerous trade and ATI was a falling knife today..I suspect many will get cut in the processs.
Watch the last five minutes of trading. People who are fairly sure Monday morning will be on the upside will make sure they get their buy order in near the close to get the stock before it gaps up on the opening Monday and to not disclose their hand thus shutting other buyers out who would otherwise run the price up slightly this afternoon before the bell.
I think it will gap down again Monday am because the margin selling will kick in, the bad press from all the business reports over the weekend and gold will most likely trade off in Asai Sunday night...it all adds up to gap down. Not to mention the giddy holders of ATI that work during the day and will come home tonight and find they have been pasted and look to bail out Mon am.
Metals will go with the market. The bears have control of everything. I'd say 50/50 the indicies have a +/- 2% day on Monday. +2% and metals will soar. -2% and metals will plummet. It's all about getting some broad buying action going.