Yes they have vacated their responsibilities. I would call most of them cowards. Cowards basically think of themselves first and are fearful despite the angry presentations they can make. When you have the courage to stand for what is proper you will usually get treated with disdain. They have decided to let the FED do their own thing. Today they were telling us that there will be no rate increase this year and look for another QE next year. Market up over 300 points with all the negative news that came out today. Will be interesting to see if the market gaps up again tomorrow.
More bad news means buy the market. Terrible job news Friday and they buy the market. Service sector catches a cold and S&P cuts year end target again and they kept climbing everest in the storm. Granted it is a little different for them as wall street controls the market so they will sell it before they short it again.
Market up over 200 points and Nasdaq up 1% while GPRO is off 1.5%. Only hope really is that the shorts are covering or it is going lower. When no real bad news and the stock has continued down this much you know you have a controlled short play. It is illegal to do this but they do it all the time anyways.
You are in a fantastic position compared to many. This was a 98 dollar stock last October. Folks bought then. Folks bought at 80, 70, 60, etc. Wall street has made a bundle shorting this stock. There has been a lot of short covering this week by the big money players. It takes time to cover all those shares because they have to short more to prevent it from running up too much. Wall street moves the market and when they go on a buying strike there are few buyers.
That is not going to happen until the shorts cover. There is a lot of big money shorts in this so it will take some time before they cover. You will need to be patient. Wall street has made their bundle long on GPRO when they ran it up to 98. Retail folk are the ones holding and most will never get their money back. Wall street plays the game with controls. GPRO has beat and raised guidance for 3 quarters in a row yet it has went from the 90's to 30. This stock may go much lower yet if we have the crash many feel we will have. Today will probably go under 30. GLTA
It will not be going up much in this market. Wall street is short chips so if it has a little bounce they will eat them up and down it will go.
We are entering bear market territory. Wall street goes short and who is going to buy. The buyers end up being wall street covering shorts via mutuals that they have to sell. The few buyers is why in these bear markets stocks go down so quickly. A lot of stocks went up significantly yesterday but on very little volume. Reality is that the FED has led this bull market with all the money they printed out of thin air. Real unemployment is higher than it was in 2008 and of course many that are working are making much less than they made in 2008. Granted wall street is making much more. Wall street doesn't make cranes, tractors, pipelines, etc. that provide jobs.They make a pipeline to the FED that has overfed them. AAPL is making money at this time for wall street on the short side. It will make it on the long side again. When will be determined.
Yes the bounces do not last the day as wall street short so we see the wall street flush.
Get upgrade. Stock moves up in the morning for the first hour or so. Then makes lower lows and lower highs as it runs back down. Now down nearly 3 $ from this morning.
Covered at 50.30. Decided not to get greedy. It still may go lower but has had a very nice drop for 3 months. With all the credit available do think Christmas spending will be good. We will see.
This looks like it could still go lower. Remaining short. Nearly covered after consumer sentiment came out this morning but waited until it broke thru high of the day. Didn't happen so still have M short. It and the market are looking weak.