I did cover my short this morning at 53. This stock does have a pattern of significant moves both ways.. Not long yet as it could be a bottom or a wiggle that will continue to move down. Merry Christmas to all.
AT present I will continue to hold my short. Think the big money is short that is why there is no real buying. Will probably see more negative news out on DGX causing further decline in the price. Even the positive news the other day resulted in lower prices.
Homebuilders have been beating each quarter. Financials have been using the money from the FED to buy the markets. IN isolated sectors they have decided to make their money on the short side. Home builders happen to be one of the sectors they have decided to short. Because they control the market even though home builders have been doing better than some of the sectors that they are long, home builders do not move up. They, senators, and congress are permitted to collude to make profitable trades. They will need to cover their shorts before home builders have any significant rise in their prices. It is called the new American dream. Get into politics so you can get rich at the expense of the folks that voted for you by holding on to the bootstraps of the financial institutions that funded your campaign.
The big money is short so you will not see any big squeeze. They are the folks that squeeze the other folks. They will not squeeze themselves. Still if one looking for a day trade home builders look good for today.
Yet with all the money in the market from the FED the housing market is one sector the financials have decided they will make their money on the short side. Not anticipated any continued significant move up until they get their shorts covered. Pattern has been that they let it move up a little only to short it back down.
The stock was at $35 then. It is $56 now. Could be a little overpriced. Will continue to need QE printing to keep market rising.
Still lots of sellers and maybe shorts on the ask. If they are shorts then it is big money keeping it down. The wealth effect is taking place with the financial institutions doing mega amounts of trading with printed money from the FED. They are not using it for loans.
Will be interesting to see what happens here. Still lots of shares on the ask. Not looking like gold stocks going to move up significantly. We will see.
Disconnect from reality except when government is reality. You do have elections but only those with little or no character run. Paper money is much easier to create.
Shorts continue to be the winners in gold. Go JPM go!