The major shareholders have made millions selling their holdings at hyper ventilated prices. The mutual fund and retail people give their money away to these crooks. The folks losing their money are not the chinese. Many of those that made the millions have left China .
With that kind of a miss do not know how you can call that an overreaction. This is a huge miss and the economy is not getting any better. In fact the change of position by the FED is telling us things are not getting better. More part jobs with folks making a much lower wage is indicative of a slowing economy not a boom. There is going to be no rate hike in 2015 and they will extend QE is some form. Lennar just beat today. The homes that they have been building are not for the middle class. Just another example of the rich getting richer and the poor getting poorer. People holding 3 part time jobs but losing their home.
Does appear like wall street doing some covering in this stock. Even though inventories much higher than expected they are buying. Heavier volume buying so far this morning. Quick move down early now steady uptick.
With the glut of oil the oil companies have no other choice but to cut back on capital expenses. Companies like NOV are one of their primary expenses. Consequently less business for NOV. Therefore they and their competition will be in a difficult profit environment for some time. Today more oil than expected. Running out of storage facilities. I bought a thousand shares this morning thinking this selling was overdone. I sold them at 46 .80. I still think the selling is overdone but I do remember 2008 and I thought it was overdone then. I bought some DE at 50 and it still went much lower. Good companies do come back but it may take awhile. GLTA
Decided to take a position. Bought a thousand at 46.25. When I look at similar stocks in this sector think they might cover some shares. BHI, CAM, FTI all going green. Will see if it is a mistake. If it goes below 46 I will sell.
Another new yearly low! This is where wall street gets real nasty. If they are usually the buyers and now they are the shorts the selling just gets heavier. This is 2008 material in certain stocks of which NOV is one. Main short position plus a trading position. Use trading position to cover clients selling and continue moving bid down. Significant accelerated move down. Where this stops only they know. Do feel bad for longs still holding this company.
Could be that it will go lower from here. Folks bailing while big money shorting which exacerbates the fall.
Thankfully I sold when it broke 80. I am still waiting to buy. I was thinking to buy today but I will wait until after the FED results tomorrow. I still may not purchase then. Does appear that oil will go lower. They continue to produce and there is a log jam of product being stored. This is not the unemployment rate that they can play games with. This is a commodity that they are required to receive money in order to remain in business. Government can distort their wording to deceive in any manner they wish and still print more money. The average joe is required to pay his bills and taxes all the time not just when they decide to run for office.
These folks will say anything with little rhyme or reason. Matters little whether it is valid or not. Maybe they are saying that FED is not raising rates this year and another round of some form of QE is coming so the market goes up regardless?
Downgrade and an overbought market. Of course the market has been overbought for a long time. Think that it is going to remain that way. Do not see interest rate increase. Economy much worse than reported. Looking for more QE in some form.
Yes a lot of folks losing money on MU. Lot of folks bought in the 32-35 range assured that it was going well over 40. Basically that it was a can't miss.
Next quarter I still think that there will be a shortfall in earnings. This is not over yet as you can see from the stock price. If they have not done anything wrong I wish them the best and hope that their stock price comes back. If 6o minutes used faulty procedures they will have good insurance to settle a hefty lawsuit from LL.
Yesterday for much of the day brokers covering their short positions from clients selling just above 45.
Today a nice up move. There may be a reason they make 100 million a day trader. It certainly has nothing to do with an equal playing field.
Sad day for them when the company reported much better earnings yesterday than when it was 90 and of course it was taken to the wood shed again today. I know it was only down 5% but really it was down over 10% with gap up over 50 pre market.. I did buy some this afternoon because I think it is oversold and the brokers were covering a bunch of stock as clients had to sell. Doesn't mean much as wall street does it's own thing. Internet still getting into more homes in China so think there is still upside. That being said wall street could still take it lower.
Decided to cover everything at 31.54. May have a little bounce. Will watch and see what they do. Big boys may cover some.
This stock is a great trading stock for brokerages. They take it up for some time, sell then short. They continue this trend for some time shorting more and covering some of clients sells. INTC has fallen approximately 20% i less than 3 months. Now where else do you make that much money on a sure thing.
Sorry I shared that incorrectly. They are covering a bunch to clients selling.