No this is wall street. They are very sane in how they make money. They are in total control. The insane are we. They tell us to go long while they sell(short) to us. Then they short more and the buyers are gone. Then down it goes, usually much quicker than it went up.
They have a lot of billions the FED has given them so look out. They can pay a billion here and there for crooked deals. The FED just gives them more so that they can pay the small commissions in fines after they make multi billions. Staying short still. Have lowered my stop to 33.40. These guys look serious regarding a market correction today. Think we see more than just today. We will see.
Covered my short here at 33.30. Lot of selling but all near the same price. This is how the big boys do it. They have a nice order from a mutual fund to sell so they cover a bunch of their shorts for a nice profit. May go either way but I take my profit now.
The big boys are taking these tech stocks down big with their shorts but you are not going to see 52 week lows anytime soon. Not saying that they will not go lower but we would have a revolt if that happens after all the Fed has done for these financial institutions to make money. They are the very people shorting this market right now. YHOO is already down 20% from January.
They believe that whatever they do as long as THEY make money is fine. Others are expected to follow the fine print of their contracts. After the billions in fines that they paid plus the huge bonus's for ripping share holders off that of course their profits will be down a little. Don't worry as they are making it all back being short the market now. Who do you think is taking the market down. Yes it is these financial institutions that the FED gave all the billions to keep the market up.
Certainly a lot of shorts covering. Volatility is the game. Think it goes higher. I know you are not going to believe this but I put an order in for 32.15. As one can see I got filled. Yes I am surprised. Do think that YHOO oversold but it matters what the big money thinks. My couple thousand shares doesn't move the stock. GLTA
YHOO releases earnings on Tuesday and it continues to go down. Shorts do not seemed to be too concerned about covering. I admit that I covered this morning and went long thinking that going into earnings it might stand a little on it's own. It is down more than FB % wise. Will see what happens Monday.
Tomorrow will tell a little clearer what may happen but the chart followers are very bearish. I am looking forward to see if they are correct. The big money has sure been taking it down. Earnings on Tuesday. The price movement seems to be saying that they are going to be poor. Again we will see. I was thinking that there may be a little short covering tomorrow before earnings but maybe the big money had an inside blackberry conversational and know they will be poor.
Good points by all. Probably validates that none of us really know what is going to happen. Again it will be the real money which are the financial institutions with all the QE money that they are using that will determine. I also do not think that we will have a major correction right now because of all the QE money we have in the market. It is awash with liquidity that the financial institutions are pushing around. They just happen to have decided to make some on the short side for awhile with some of the overextended stocks.
Shorts still in control of these tech stocks. Sorry but they will need to cover before they take them up. They are shorting more this morning. They dictate together.
Would indicate that the collusion is to take these stocks lower yet. May not be a big correction but does appear some lower prices to come. We will see.
Well they sure got off the offer for a few minutes and let it run up. Will have to see what this leads to.
Tricky big folks aren't they? They have a client that wants to get out so they take it down with those shares while they cover. When done the go long so few sell orders and up it goes. Must me nice to have that much money, power, and control. Certainly alleviates a lot of stress when you know what is going to happen.
Got off the offer for few minutes this morning then back on and have been making lower lows and lower highs on the daily since. I was thinking that they might move it up a little this afternoon. We will see.
I have no idea what will happen but if they beat earnings with some positives regarding Alibaba it will have a good move up. If not it will probably move down but Alibaba should bring it back later.