Question now will be, "How long do they keep this trend going?"
One thing is the slow down in China. Another thing is the big money(GS, JPM), those that move the market, are short BTU so down it goes.
It certainly becomes very uncomfortable when one runs out of hot water and has to take a bath in cold water during the winter.
They have now made their money long by selling and going short at the end of December. Now it is very easy money as they short some more.
A lot of shorts have covered since noon and there does appear to be some buying. Did purchase some just under 47 and sold half here at 47. 72. Thinking of holding the rest over overnight.
AS you can observe when the big money shorts the stock goes down. There is a reason that these institutions make over 100 million a day trading. They call it the marked deck. You may laugh at it going down but there are many that bought in April and May that are not finding it so funny. No I am not one but I do feel for those that did.
Significant selling and shorting today which is not based on fundamentals. Looking like a significant kicking for longs. Some serious volume.
This is an example of how manipulated the market is. They made less this shopping season than they did last year when the stock was 13-14 dollars. Even if the stock has dropped 30%in the premarket it is still 50% overpriced.
Some big money that is short running it down. Bought some at 82.60. Looking for them to cover.
Only folks that go long are the big traders for a scalp as this company is in real trouble, Folks will not even buy their real estate in many cases.
Did not go under 49 and it appears that shorts have decided to take some profits. Has been significant buying with volume since LULU hit 49. Yes I did go long but what I share is certainly not going to move the stock. This product is not like crox. Still think it has a lucrative future but I would agree the big money has been made in the past.
No support and they are piling on. Longs are falling off exacerbating the fall. Appears to be going under 49. We will see. Do know that women love this material. Certain stores still can't get enough product but this is the stock market. When the shorts gang up on any stock it is going to have a great fall.
Then of course they short with volume. These same folks folks that joked about Madoff are joking that this was as easy as kicking the cane away from an old lady and stealing her purse. It is called the American Dream.