Think UNP and KSU a bit oversold.
I do not know if that will be the case or not but I do think it will be higher that 112.70. I bought some at 113. Think this was a little too easy for the MM during lunch and they will cover their shorts.
Now we can see why it is said that when these big locomotives pick up speed, they are difficult to stop! LOL! Couldn't resist although it really isn't very funny if you are long.
Market makers are having an easy time pushing it to new lows for the day during lunch. Appears to be an easy short trade for them.
Significant drop today with KSU news regarding lowering revenue for the year. All rails hit. UNP taking the biggest hit next to KSU. Not sure that UNP deserving of this big a hit or if it is just a KSU situation?
Existing home markets below expectations and market continues up. Validating direction of market. Companies that warn have an initial drop and back up they go. Trend has not changed. Folks have been sharing since 2009 that the market is done and of course it has just continued up. One of these years the market will have a correction and the gurus that for all the previous years have been wrong will finally be correct.
Continues to move up. No interest rate increase and there will be more QE in some form. The FED is not going to let the market have a big correction in 2015.
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.