I took a shot at 481.09 thinking maybe I'd get a 20 dollar rise but going up over 70 blew by socks off! A 19 cent profit was totally unexpected.
The trading action sure points to heavy shorting and probably by some institution(s). They've got a stranglehold on BABA and longs need a really strong catalyst to break it.
Pretty hard to fill a gap when almost every uptick is met with a downtick or two. Doesn't it seem like the amount of selling is still very intense even though the stock has been downtrending since June 8th? There should have been lesser sellers by now as selling exhaustion usually takes place. I'm guessing a major player is keeping this one in place for whatever devious reasons they have. It may move up if either the Greek issue is resolved or the Chinese markets reverse their downtrends. If not, will probably stay around 82 or so indefinitely.
Bears haven't thrown in the towel yet. Moved up to 85.41 or so and was quickly pushed back down. Need to see more bullish action before I would say that a run is going on.
I found a comment somewhere about a secondary point for selling by IPO insiders coming up this September but that's almost 3 months away so don't know if that's part of the reason for the selloff. You can't always find a reason for stock movements in either direction - it just happens.
My last few trades went through the same crazy pattern then finally broke through a strong resistance. Just have to be patient although it can sometimes drive you bananas.
When Friday's markets open, expect a further move forward. The AH can sometimes be deceiving.
Sentiment: Strong Buy
Oil is weighted about 42% of all the equities in RSX which is what RUSL follows 3x so I think we can assume George is either delusional or a shortie. To answer your question, I too was trying to figure out why the Russian market was so bad today and came up empty. Must be part of some correction going on because their markets did have a huge forward move leading up to recent downward moves. Putin's administration has been very busy cutting lots of deals lately with India, China, Europe and even Ukraine which he is currently an unpopular occupier. Sure looks like this ETF can spring back once all the selling is over. If you can stand the heat, stick around awhile. I feel your pain as my dollar cost average is 35.62 which is a long way off today's closing of 32.48.
Great ER plus great forward guidance, increase divi and continue stock buyback, end of refinery strike, new analyst comes in with a "buy" and in spite of all this, the stock seems to be stuck in the 100 to 104 range with lots of selling. The daily pattern remains spike in early trading followed by a fade in later trading. Did LYB go up too fast and now it's consolidating or am I missing something in the current action?