I trade with TD Ameritrade with sink or swim. The last few days I have been watching the trading action going on with this stock, by keeping an eye on the level 2. This allows you to see all the bids and asks.
At 12:15 I saw 8-10 bids and asks ALLdrop 15 cents all at one time. Talk about total computer manipulation. It bounced back some, but I am out for the day, taking my profit and running.
I may rebuy again tomorrow, but this is rediculous.
Good luck to all longs, but after this nice run up, I want to wait and see what tomorrow brings.
rls, My opinion is that history will repeat itself somewhat, Oct 16,2012, briefing documents REVEAL drug details that all 9.35drug companies never normally share. Stock closes at $10.27 on17.5 million shares, next day $9.62 on 7.35 mil, on 19th 9.35 on 9.8 mil AFTER 'favorable' panel vote. Wall Street now knows, no 'blockbuster' here, closes at 7.67 on Nov. 8th...............Jan 9, Crooke talks about "final labeling" at JP Morgan HC Conf., Stock gets rejuvenated, approval expected....Party time..........I'm betting that nothing lasts.....
Thank You for the intelligent response. May be I was dreaming when I thought we would see 16-17 today and then there would be a pull back.
I really thought the beat down was on when I saw all those bids and asks drop 15 cents together. It was purely planned between all those different computers, and scared the #$%$ out of me. I had already sold once earlier, and got greedy going back for more on what I thought was a new upswing when this beat down happened.
At that point I lost confidence in the day and quit while I was ahead. I have seen stocks get beat down watching the candlesticks but seeing all the computers timed together like that makes me wonder how really rigged is the market in general?
It also puzzles me that AEGR when it got pre-approval it jumped several dollars before it pulled back when we went down. AEGR is up I believe 7 or 8 dollars since the pre-approval till now, and we arwe up 4. Hopefully we have several more dollars of upswing left.
I am going to be careful the next few days incase of another downswing, and I will buy more.
Also we may have a bad jobs number coming which will create a pull back of the entire market.