Not exactly sky high volume on this terrific rally, but as a long, it's fantastic. But watch what happens tomorrow - it will make just as little sense as what's happening today.
I know I post that header a lot, but I only post it on days when it happens. Which is pretty much every day. Ever wonder why? THE CASINO IS OPEN! Welcome to the BX card room - players only!
Amazing, isn't it? Every freakin' day this stock gets played. And played. There is no reason in the world for this stock to get sold off like this repeatedly. Their business model is brilliant and they have all the cash in the world to pull it off. The p/e is preposterously low, the yield is a fat 6% plus. So you tell me why this sells off every morning during the first hour of trading. THE CASINO IS OPEN!
This market is a joke. Given BX business model, earnings history, yield, p/e, this stock is grossly undervalued and their is no logical reason for it to take these daily dives, except one: it's being played. Like crazy. Hedgies, mo-mo players, day traders - they use BX like a tool. Managers at BX are geniuses - they scoop up distressed assets, and turn them over for huge profits. With the collapse of oil, now they're getting into energy because they have more money than God. Soon they'll have even more. This stock taking a dive (like it does most mornings in the first hour of trading) is BS.
We got a yield of 6% and a p/e around 9...and this stock is getting sold off like crazy? I repeat, what a crock. BX bosses are financial geniuses, and now, with oil at HISTORICALLY low prices, they're getting into energy? Just one more genius move. Love this stock, but this market is #$%$
New buyer, huh? Buckle up, baby, you're now in the most played stock on the NYSE. Players, swing traders, options honks, they LOVE this stock. You'll see dumps like the one early this morning almost every day! Today, we went down half a buck for no reason while the broader market rallied. Tomorrow, we'll go up half a buck for the same non-reason: because the players want it to. Have fun, go long, enjoy the 5-6% yield. By the way, it's a "partnership distribution," not a divvy.
When BX dumped over a dollar one day last week, posters were crying "What's wrong with BX?" Nothing, I said. It'll go up a buck one day this week for the same reason: players playing. Enjoy it while it lasts.
Don't look too deep...this is a player's stock, and players are playing. Share price movement has NOTHING to do with what 's going on in the company.
Of course there's no reason for today's dump. It's happening because BX is the most played stock on the NYSE. Haven't you heard? THE CASINO IS OPEN! I mean, you tell me: how does this stock hold tough while the market dumps 250 points on Wednesday, only to fall off a cliff today? Because it's a tool, a toy, a trader's plaything. Just watch - for this same "no reason" it will bounce 3% on Monday.
Swooping in and taking advantage of distressed industries, and right now, you can put oil in that category. Yet another fantastic opportunity for the company, and they've got the $$$ to turn $$$ into $$$$$$$$$$. The stock gets played like crazy, but long term it will rise with this business plan.
BX holds steady when the market dumps...BX won't budge when the market soars...the manipulation is obvious. There's a reason BX trade volume is TEN TIMES greater than CG or KKR...it's being traded like crazy. THE CASINO IS OPEN!
Which could be a terrible technical indicator for us longs. However, the trend does seem to be up. Should be a very interesting day - futures are up. Busting through 32 today could be the one that sticks.
Not quite sure how heavily BX is into Sea World these days...very heavily in the past, but I believe they've sold off some. In any case, Sea World could be pulling BX down today. On the bright side, BX is heavily into Vivint Solar, which is looking up big time. Unfortunately, BX is a trader's stock and a mo-mo play. Downward mo could take hold big time today, especially after a nice three-day run-up.
That's the most ridiculous looking (90 minute) chart I've ever seen. If you had any doubts that this stock is little more than a trader's plaything, put them to rest. Where's the casino manager when you need him?
Followed by another rally (with no volume behind it) followed by another sell off...this ride should be at six flags or Disneyland.
All you have to do is look at the first hour of trading today...a sell off, followed by a big rally, followed by another sell off. All in the first hour! This stock is Vegas on Wall Street.
you have to remember that BX is a trader's plaything. It's not so much a stock as a tool. Options, mo-mo players, swing traders, they LOVE this stock. How can you explain the share price DOWN for the year with the earnings they turned in? Complete disconnect. The casino is OPEN!
Down 3% in the first few hours of trading, only to come back most of the way? Is this a yo-yo or a stock? A trader's plaything, or a real live security? Oh, right, it's just the NYSE, the biggest casino in the world.