He said to buy at 86,.50. His normal course of action is to say buy, buy, buy again. Of course he is eventually correct.
Might be around the time to buy.
7 votes yes/ 15 votes no so far!
Looks like it could be down 10 of 11 trading days. Notice that Goldman's revenue down a little. Means they have not been making quite as much trading. They have had to pay a few more fines for their illegal manipulation. They will need to do even more. Reality is that their fines add up to a very small commission. Day is not over and maybe MU takes off this afternoon. They will decide. I am watching as I sold January 8. In the middle of October it fell to 27 and the fall was precipitous. This fall has been similar so not willing to catch the falling knife. Last time I purchased at 29.50 and was not enjoying watching it fall to 27. Do think it is a great company but the trading being controlled by the big money can make it hazardous for little folk like me. The market will have to tank for this to go back to 16 IMHO.
The shorts are buying. They have a base investment of a short at we will say 34.25. Then they use their trading funds to short more and cover as others sell. Then they short again with the money from covering. They can just stair step it down. They let it move up even a dollar and then move in again. Money makes more money. Be careful as folks continue to think it will always come back. Fed has continued to provide money for this market to continue moving up. It will come to an end. When? They do not even know but it will.
This is a wall street money maker that they move up and down. Does not move based on fundamentals . Moves as the build a base long or short then move it in the direction that they make money.
Since July just a lower low and lower high with it picking up steam in December. Now many more jumping on the bandwagon with the stock so low and the market so high. Fear taking over as folks talking about 2008 when it went from 62 to 8 in 6 months. Hopefully for longs this is a new time and the big money does not permit that to happen. Will have to wait and see.
The shorts are making a lot of money of these shares. As others are saying, investing is not the thing to do. The big money makes a core holding short. They then have the means with their many millions to continue taking the stock down just by shorting more and buying back with their trading money. This stock is a prime example. Continues to make a slow move down now. If you are long it will seem like a much quicker move down. Now just making new multi year lows. The casino always wins in the end.
And it has. Sold those shares at 32.10. Have been observing as there still are many sellers on the offer. Stock is still in a downtrend from the last couple of trading days in 2014. Are all these sellers real sellers or more shorts going to take it lower with the buyers being big shorts who are covering some to then short more to add to their original short investment. Not sure so will wait to see if I can get a better read. Stock is still making lower highs and lower lows.