Full disclosure. I did buy some GPRO last month at 46+. I thought it was over done from 98 then so of course I still think it is over done now. Not in the habit of doubling down so will not buy more until the trend changes. Best TA
I forgot to mention the reason I asked the sales person about GPRO was the TV at the checkout advertising GPRO. It was demonstrating different GPRO items in action. No other companies advertisements, only GPRO. Folks at the checkout asking questions.
Do think that before next earning's date in October they will have covered. They have beat every earnings. I just came back from the sports store that I do business. I asked them how the sales of GPRO material was going. They shared that they sold a lot of it. It hit a new 52 week low today so they may take it lower before they cover. They may be covering a bunch now. It does show how strong wall street is when GPRO had an upgrade and they can drop it like they have when the market is up around 300 points. This does not do much for those that may have bought around 75. My thinking that it may be near a bottom does nothing to move the stock but if wall street decides it is then they will cover and go long. It could have a nice little jump before earnings. GLTA
Market up because trade down in China so hoping for QE there. That means business is down here. Basically we are saying that we want them to prop up the market for the rich & not make the necessary changes that will be good for the country in the longer term. The world really is on a road to disaster with this living in an immediate gratification state. Leadership only looking after themselves.
We will short this market now unless you do some more QE. We will kill the little guy and take his money. We will make millions but the country will be screwed. A quarter point increase in the FED rate is nothing. They are just playing a game with that.
You are correct in your assumption. It is the market that has me short. Of course I do not know what wall street will do but until they come out with another QE I still think that this market goes lower. I do believe that this recovery is a fraud and that the very rich have benefitted but the country as whole is in serious difficulty with earnings and debt never mind our lost values which will have far more negatives in the future.
When you have a high PE you get punished if you miss. In this market you are going to get a little harsher treatment as the buyers are not around to support the stock. Companies that are beating significantly are getting clobbered if they lower guidance. Five is now lowering revenue guidance for the year. Looking for some shorts to take some profits so I bought some at 33.80.
They missed on revenues and are lowering revenue for the full year. When you have a high PE like FIVE it is easy pickings for the shorts in a market that is trending down. Those that were the buyers are the shorts so far less buyers available. With retail sector doing so poorly this nice drop may have some of the shorts covering tomorrow in FIVE.
It will have a nice move up some day. For the most part they move it up some and then down a lot. I am just trading for the day. I have been shorting and covering later in the day. I shorted again here at 51.95. No volume. Market makers teasing folks into thinking it goes up and them they can drop it quickly.
Can not really explain yet this market is being extremely manipulated with permission from the SEC. Look at an over 1000 point move down at the open of trading one day and then gap ups another day. This is wall street making hundreds of millions of dollars at the expense of the retail people. It has become so overt yet there are folks that say this is just a conspiracy theory. So wall street will decide they will take a stock like SPLK down after earnings one time. The next time it is gap it up and keep it running. Much is just a guessing game for retail folks. One needs to be very careful especially with market so volatile.
With lowering of earnings for the second time this year and the terrible quarter, there is certainly no reason to hold it. Another new 52 week low coming. See ADSK falling much further in the coming weeks.
Even JCP moves up more than KSS on a good day. JCP up over 6% while KSS up less than 1% on a day DOW up over 360 points. Looking for lower prices again today in KSS.
Think wall street is still short KSS and will move it back down again. They still have to cover this before it has a significant move up. If it closes above 52 I will cover. Wall street has this market on a string and having no problem moving it to make themselves multi millions.
Of course wall street will do the opposite to what you think. Good volume on the buy side. Market has gone significantly higher since then. Wall street manipulated the whole historical last five days including today and they have made a bundle while a lot of retail and mutual fund folks have got burned.
Well now the Dow is up 250 points and KSS is down 40 cents. Wall street still short and will need to cover before this goes up. Will go much lower if market continues down.