They didn't let it get thru 32 and has been selling since. Does appear that it may be turning over. Of course one day doesn't make a trend yet this high volume pull back day does put it on the watch list. Just observing now as i sold at 31.20.
Expecting it to move down some more next week. Nothing positive about Jeffries raising price target to 40. Maybe some big traders are short now in MU and will take it down some more in the next couple of weeks. In a couple of weeks they can cover and go long before earnings.
We do not move the market. Our retail shares are insignificant. I just took profit as I traded. I bought some FEYE after hours when SPLK beat and raised guidance. It is always wise to take profits. Granted, some times I do get shook out . Maybe that will be the case here but I am not a gambler.
Know it is still lunch but seems like heavier volume selling or shorting here than just market makers making a few cents. Appears that they are moving out of FEYE and on to something else.
They are not listening. Sellers continue to refresh on the bid. Even after the positive news that has come out they sit on the offer. Appears they let it run up this morning to sell and short. Do not think you are going to see 50 as it is lay down time now. They are sure taking back the gains quickly.
Definitely heavy volume today. Has pulled back to this 31.30 area. Does seem to be a lot of refreshing on the offer. Some folks taking profits and maybe some folks shorting. Will be interesting what the last 2 1/2 hours produce. Despite the heavy volume, the high of the day may already be in place. Mind you these momo stocks can move quickly.
One wonders if that was a bunch of accumulation in FEYE today preparing for this upgrade. No they wouldn't do that.
You are correct hap. I shorted more(same amount as at 57.10) at 59.20. When it came back to 58 I thought I was in good shape. There was considerable volume and it started back up. I covered both lots at 58.40 for a loss because of the exact reason you have given. Big money seemed to be buying and I had to admit that I was wrong. I still think that CRM is way overpriced. I lost $500. Call me crazy but I have shorted again at 60.75.
I do apologize as I was incorrect with my revenue figures. Shorted more at 59.20. Can not believe this has run up this much. One needs to follow what the big money does not what you think the market will do. I was wrong but I still believe that I will make money on this trade.
Think they sell and take a bunch of profits here. They are just gapping this thing up. If it goes higher I will hang in there. There is no way this stock is worth 57.
Has played out exactly as we said. Wall street, Fed and government all in bed together with the initials on their headboard, "TBTF".