When this stock was in the teens (not that long ago) and in the twenties, it was a trader's plaything, a player's toy. I think those days are over. Because this stock is now officially a monster, their business model is brilliant, and the company leaders appear to be geniuses. I traded in and out a lot until last year and made money every time, but in 2014, I stopped and simply went long. Until last year, every strong upward move would meet with a sell-off you could depend on, but as earlier stated, those days appear to be over. Their investment in oil is already paying off, the partnership distributions are soaring, and the future looks as bright as the recent past. Well done, BX. In for the long haul!
Never fails. Going up tomorrow.
Told ya. Up today, even in the face of all the market bs that's going on... These guys are financial geniuses, and their business plan is brilliant. Think of the windfall when oil is back up to 90 bucks in a few years...
Naw. It would be beneficial to players and traders who sold at the all time high and are awaiting a re-entry point. I'm long since 2008, and it would not be beneficial to me at all.
Down 5% in a week, and you wonder "what's wrong?" Nothing. Absolutely nothing. The company's business plan and earnings are ridiculously strong. Likely to continue. So why's the share price swooning? Traders, players, swing traders, options players, hedgies. If the broader market continues to blow, BX will continue down as swing traders cash out. We had strong consolidation above 43 bucks, so this drop to the 41's is not fueling the run to 50, as some on this board have suggested.
GE properties? Nah. Fees? Nah. Pension fund trimming? Nah. Uptrend broken? Hell, yes! There is NO good reason for the BS we're observing today, just traders and players and hedgies doing their thing. The tail is wagging this dog.
The greatest external force on BX share price: players. Day traders, swing traders, mo-mo players and hedgies. Players had complete control of the share price a couple years ago, when it was in the teens. Not as much these days, but they still drive it in smaller intervals (a few days or weeks).
There is no reason for BX share price to be languishing. The way they've been carrying out their business plan and growing earnings is brilliant. I would expect some profit taking here in the 40's, but that's gone on long enough. It's time to bust out of this. Down in pre-market is meaningless, of course, and BX trading patterns are chock full of head-fakes. We're due to go up about a buck one day very soon. Is today the day?
You are correct, this is complete BU))S#1T. Today's action is NO reflection of the company whatsoever, it's just players playing, and profit taking. Look for a big move up, again for no reason whatsoever, in the next 7 days.
Okay, I'm keeping score, and that's a 10% pullback. Is it safe? Impossible to know - traders are STILL controlling the action here in the 40's, just like when the share price was in the teens. Most telling, BX is a mo-mo stock, and the trend is our friend. The mo-mo is decidedly down and down hard, so I'm holding on but expecting even more pain here is days to come. But a reversal, and a hard one, is over-due.
BX upward momentum is busted. And with a mo-mo stock like BX, driven by traders and players, busted mo means lots of selling and profit taking. We'll need a catalyst (earnings?) not only to move higher, but to keep from crashing further. Buckle up.