Why do you keep dragging up this four month old post? You're going to develop a shoulder problem if you keep patting yourself on the back.
This stock has become poison. Yesterday's high volume along with today's almost 2 million shares traded in the first 30 minutes are either capitulation or an indication that longs are completely hosed for the foreseeable future. Too much uncertainty in the air with impending Trump/Clinton catastrophe hanging over our heads and global meltdowns popping up all over. Is the sky literally falling?
Be wary...BX is near a three-year low. Great company, great business plan, but the stock is a trading vehicle. The most manipulated issue on the NYSE.
One would have to surmise that if they disappoint again, BX stock will get crucified.
I can only come to one conclusion: you MUST sell after every run-up. It doesn't matter that the yield is pretty healthy. Or that their business plan is brilliant. Or that they have more cash on hand than God. This stock is 100% controlled by traders, and it will sell off after every run up. The last run to 27 was a perfect example. When it hit 27, it teetered there for a day or two, and when traders decided the rally was tired, blammo. Down 10% over the next two weeks, like clockwork. No reasoning, no news, nothing, just traders playing. I'm holding 1,000 shares for now, but I will be selling after the next run, and buying back in two weeks later for a fast $2-3,000 profit. Traders - you can't beat'em. Investing for the long term is dead. Dangerous.
Longs...you know the cycle by now. A preposterous run-up of 30-40-50% or more over a few days, then the trickle down. No hard data on earnings, no profits, just hype. So what will drive the next run-up? And how low will the current trickle down take the share price? Watching with great interest here...an MJ market is surely on the horizon.
gims...shareholder value is strictly in the hands of traders, hedgies, etc. This isn't your father's stock market, In fact, it's not a stock market at all any more, it's a casino. BX isn't an investment, it's a trading vehicle. Share price has ZERO to do with company performance.
Why? Because that's what traders are doing, and currently, they are controlling the share price 100%. BX stock on the NYSE. It's not an investment, it's a trader's plaything.