I don't see how the day ends well for the bulls. They're getting a little bounce up but there will be selling into the close--can't hold long overnight.
The only tool the Fed/Obama administration have to increase "wealth" is to drive down the dollar and inflate equity prices by making bonds dead money. This is the only way to, even just a little, build up people's retirement money, at least some people. Otherwise with another stock wipeout, there will be even greater unemployment, no savings by people for emergencies (they'll blow through it again once unemployed), and then you're stuck in perpetual unemployment resulting in even greater costs for the government in supporting people via unemployment, food stamps, welfare, you name it.
These types of days are nauseating, even when they're on your sid,e because you never know when all of a sudden it crashes back down 3-5 points.
Tell me about it! Last July I was long 5000 shares the day they had bad earnings and it dropped I don't remember how many points in pre-market and my brokerage sold me out even before the market opened. I was down to zero in my account. Lost like $25k before the market even opened.
Actually for once I am on the good side of TZOO after losing tens of thousdands of dollars. It's better to be lucky. . . . today I might actually get much of my losses back.
I kind of agree that the hype could be overblown. Last fall wasn't there some vague story about how some private firm urged people to sell their shares so TZOO would go private, somewhere around $40/share when it was in the low $30's? Seemed like a pump. $40 is a distant memory. . . . .
But the volume sucks so far. .9346 shares with B/A 27.00/27.70.
It's propped up with no conviction at this point.
Looks like will close over $100. The last hour or so last Friday, the huge sell-off, must have been computer trading after triggering stop losses or something like that.
Maybe not! Can't believe the diverticulitis news is having such a big effect. That drug is such a tiny piece of their revenue.
I assure you the two are not related whatsoever. The Chelsea news is just coincidental; midodrine is a speck of sand on the beach at Shire.
I saw on ETrade that GS raised the price target but it was in UK currency so I don't know the equivalent off hand to USD. . something lke from 2400 to 2500.