Can't snuffle over profits. ;-) I'm contemplating going back in long since Lucy just dropped the bid from north of $19.35 to $19.15. Regardless she is certainly making a game of it today ain't she?
Okay....bid $19.25 and I'm closing my earlier Sub $19 "stagger in/out" tranches here for bird-n-hand profits. Now let's see what Lucy does into close...
Buy, sell, it makes no difference. It's just a question of timing is all. Speaking of which....bid now $19.22 and being kited. Did I ever mention how "OL Lucy just LOVES to confound the Charlies in both camps? She is equal opportunity like that. ;-)
Let's see how she closes it. Bid now $19.24.
Rloos: But...but.....ain't she puurrty all gussied up with new lipstick and all? Just close yer eyes and use yer imaginations? Ahem!? ;-)
Bid $17.69 and trying to bound....but the sell side ain't backing off much...
And down it goes. Bid $17.65. Still weak. Still being hammered. There's zero buying going on. The buy side has stepped away from the gaming table leaving the selling to drive the bid as they may. I'm not sure the reason for this never ending wave of selling; it's occurring all across the sector (you can literally overlay intraday charts of BAC, C, JPM, XLF, et.al.) but in any case support zones are being smashed....it looks like, possibly even today, a double bottom test of the mid-$17.50's is setting up (on the 10 day chart). And for a reference below thte $17.50 area is a July 15 upside gap from ~$17.10 to ~$17.50 that stand begging to be filled. Something I wouldn't have considered this time last week.
The way the sell side is playing the bid I'd say the odds are better than 50/50 you get your $17.50's.....the buy side just ain't stepping up....there's buying on the downdrafts...but only judiciously and not enough to impact the overall sell side pressure. Bid just crumpled to $17.70 and being strongly attacked. Here comes the $17.60's.....
Resistance is the $19.15 area. So far it double topped around there and has subsequently pulled back to the $18.95 area...I've a intermediate term downtrend line I've maintained on my chart. It starts at $26.59 back on June 2 and runs thru today. Interestingly enough the bid broke back on top of it, and has since pulled back to it (now) twice and bounced. So overal doing this might portend a change in trend...but for now it's trying to work itself out...bid $18.93.
Bid bounces from mid $17.70's to ~$17.91 at which point I step away for a time, come back only to see that Master rolled the Pooch over and YANKED to the new intraday low it's now at, $17.72 And the sell side game is once again full on capping the ask with a large show while hammering the bid. I'd say this is ridiculous but that doesn't accomplish anything. It is what it is....even so...I'm back in yet again with another buy side trading tranche here. So long as Master keeps doing this +20penny swing game on the intraday I might as well play along....
Nest: Don't know from .52...but the sell side is keeping a heavy "missile silo covering cap" on the bid....they are not letting the bid loose no way no how....at least....for now....'course..the overall market action ain't helping...
Mikey: Sounds like a plan. ;-) Meanwhile, though the bid can't seem to get out of its own way there might be some stabilization setting up....bid $17.81. All this downside yank-about might be related to the Greek market finally coming back on line....'course...China ain't helping things none.......
Breakout? Breakout from what, exactly?!? I just see the equity as being in a new, upgraded, channel is all. Whereat it was churned for a time from ~$96 to ~$106 so it's now been doing from ~$111 to $119, with overshoots at either end. I suspect this will change but regardless just play the channel churn. For now all downside merit has been forgiven and the kite is aloft!? ;-)
Crashes without a helmet? HA! That's about what is going on right now.....not just with BAC but all across the sector. Take out a chart of the the first half hour of the session...you can dam near overlay the charts of BAC, XLF, C, JPM, et.al. Looks like the HFT's took a collective dump on the sector. Allowed me to pick up some cheapies in BAC, C, etc...but even so sometimes I just gots to sit back in amazement with how market dynamics can confound expectations. So it goes I suppose...
Okay...playing the buy side trading game here at ~$17.77. Opened a tranche...let's see where it goes...bid .78 but being overshadowed by a heavy show on the ask.....
Well so much for Master letting Pooch run....the session opened with Pooch running north of $17.90. That lasted about long enough to blink your eyes and sip a cup of coffee. YANK! Bid $17.81. Given the sell side tactical game appears to (still) be full on I suspect Master is taking Poochie back into the $17.70's at the least....bid now $17.80 and being hammered....
Extp: I don't know if Softies Win 10 really means all that much for MU...but as a tangential comment I like Win 10. I've been using 8.2 prior and, overall, the OS is nice. Granted I work/live in a Softie "garden" but with the "one OS to rule them all - meaning from smarty hand-held to tablet to lappy to desktop" I think they've set a nice game-plan in place. To my mind such OS scalability is increasingly a requirement to success. But as is always the case it will come down to execution. We'll have to see how that plays out.
Speaking of execution; PM bid $18.67.
Dragon: High for 2015? Well...presuming this hasn't already happened back ~July 22? ;-) I dunno...as a WAG I'd say....the $19.teens to, maybe, $19.50? That represents about a ~6 to 8% premium over today's pps. Given the way Master plays the Pooch that ain't bad? But saying so don't make it so. Let's see what actually happens. It could just as easily pull back by a comparable amount.
PM bid $17.85.
Don't know from huge volume but the set-up is to play a bounce off Friday's ~close. So far it appears to be doing so...PM bid $18.71. But for now I think others have noted a probable key aspect in pps performance over the interim period...and that is the spot rates on the likes of that which MU current produces. It's the only calculable aspect the market can hang its hat on while waiting on the INTC/MU gambit to "actualize." So I expect pps to be someone chaotic day to day. PM bid $18.66.
Simplistically speaking....simplistically speaking.
Of course both ideological "camps" are caricatured by their opposition. It is in the nature of those who pontificate and obfuscate over such as this to do so. Caricaturization is one step removed from declaring the opposition inhuman and so "killable." The reality, as always, is humans ain't so easily simplified, though the political elite who "manage" the human herd always strive to make it so. Makes it easier for them to control us, eh?
As the late great George Carlin once observed, whatever it takes to keep us divisive, whatever it takes to keep all of us monkey back-biting each other and such...Religion, race, ethnicity, money, you name it you can guarantee they will use it. All while they continue to waltz to the bank. Errrr...so to (simplistically) speak. ;-)
PM bid starting about where it ended last Friday. All the intermediate term TA is signaling oversold here and the July 29th upside gap has been closed. So the set-up is to play a bounce....but though the set-up leans that way the TA ain' t quite saying buy buy BUY (to quote a certain CNBC shill). So for now I want to see how Master runs the Pooch in the first hour or so of the session.....Pooch could be walked lower just to confound, before being allowed to frolic a bit northward....for now $18 is resistance....and the $18.teens are clearly (to me) strong resistance...as all the runs into the teens have been this year...
PM bid now $17.85.