Not likely today with opt exp and 7 strike being the target.
Clf has struggled here this week within a tight range.
Some taking profits others waiting for stabilization.
The run since January is 6X from 1.20 lows.
We likely see 8 by earnings but noth seeing 7.50 today.
I am out in both positions since this week and waiting to get back in next week for another run into earnings.
Hope this lasts from here on....
And the hate continues today. Pre market had CELG over $104. Someone else isn't happy right now.
About the only sector not catching a bid is anything in the IBB. They are selling the hell out of that so all its comments get crushed in the process.
Until some on WS says the election is not a concern, I suspect this is the primary reason for the hate.
Not since the fall of 2015 when they took the hit. Trend is straight down every week and nearly every day since the drop. The vol argument is not valid on a decline that is going in for this long while others show stabilization.
It is having an impact today, down 3% while other refiners up nicely on day. WNR is not on heavy vol so maybe it recovers. Need earnings and CC to set record straight.
Here is the big question. In the fall of 2015 the refiners took the hit. YTD the others are hovering at 12 month lows but WNR is at a 4 year low. Is this mismatch warranted?
We are stuck until....until whatever overhang on the IBB is removed. Maybe earnings and good CC.
If this daily markdown is because of elections, people get over it or we have a long way to go on daily drops.
Is WS underestimating the sector on election worries over pricing or growth, or do they have it right, or are fund(s) seeing liquidation selling this former high flying sector?
Something is really off base with the only sector YTD being trashed is the IBB and its components.
Not. This new version sucks.
Nothing in heavy vol, just sellers taking profits without buyers to bid it back.
Earnings still over one mo th away. Perhaps upcoming earnings from other companies has mouth news to support Veev.
Everything selling at an 18 month low. Hopefully CELG and the IBB catch some love from earnings announcements and election uncertainties around pricing matters.
My nominee for CEO of the decade....
I remember a time last year when he called me to explain what they were doing to turn things around. Hard to believe he has gotten so far, where everyone but himself and a few shareholders on this board believed. We wanted to believe cause we were beaten dead by our investment in Clf.
If he were given a good company to run, not a sinking ship like Clf, just think what he could do for his shareholders?
traders out there who shorted much it at much higher levels still have room to wait this out.
There is not much in the markets worth buying now in any sector with damn near everything at YTD or 52 week highs. Bonds, gold, stocks, etc. rarely is there this much hysteria in all things. Buying frenzies generally meet with swift corrections.
Money is pouring into the US for any kind of yield. The earnings story could change my mind once S&P companies report and if they guide up.
Once clf tips back down I will get back in. Still uneasy about the global growth story to justify a materials ramp. Been this way for 2 years and the picture looks less certain all the time. US markets simply holding up on hopes of more QE and stimulus globally, yet none of these countries nor ours has enough mojo or juice to do so.
These are just my own views. I still like what Clf is doing, but having been burnt for two years on this company I only trade it now. After the ER and CC I may go long and strong.
Q1 Institutional increases in CLF included:
State Street increased by 44%
Renaissance Tech increased 53%
Black Rock Institutional increased by 6%
Black Rock Fund Advisors increased by 14%
California Public Emp Retirement Fund increased by 25%
MS lowered PT to $12
Axiom still has its May sell
Nomora still has its $1.50 PT
to sink to the bottom
over the last 3 years. WNR began its decent in September 2015 while the others started dropping in January 2016.
In all cases, this current drop continues on. What brings it to an end and when?
The entire transaction was part of a trading plan. The shares were granted to him at 16 and change I believe. These are structured plans and they happen on schedule regardless of news or events.
Do not draw any conclusions on the sale because there are none.