Stock about to double. Selling shares for 23 only to have shorts that knew of this already be short then use trading money to take it much lower via the low volume trading. Sorry for longs. 2 cent dividend not going too far in order to cover this loss. My goodness, down 7% today.
Good for airlines. No move up yet because the big boys have to cover and get long before this happens. Wall street has become so overt in their manipulation and collusion that it is becoming obnoxious. They do no fear a 35 million dollar fine if the SEC pretends they do something regarding their illegal practices. If I make a billion and pay a 35 million commission, that is very inexpensive not to mention the thousand times they do it and there is no commission. LOL Recently one wall street money maker did admit that we have lost our way and our morality with all the greed. Be careful and attempt to do what wall street is doing not what you think they should do.
Wall street at it's finest. They are long this stock and after this dismal guidance they are raising their price targets. They are going to sell this to their clients and then go short. Then they will short more and drive the price down with their millions of trading capital. Just did it with airlines and KORS. They did it earlier last year with DATA, FEYE, SPLK, etc. They will do this with PANW also. Be careful and use a stop loss if you are going long.
We are not going to raise interest rates. Our stats are showing us that the economy is on the mend but it is too early to raise rates. We can see that things are slowing down in China and we do not want to exacerbate that problem as it would have negative results in our own economy. We will be the sacrificial lamb and keep our dollar and sell gold to China. This shoould help to keep our airlines flying.
In fact they were so busy when I arrived and more so when I departed that I debated buying a few shares. I certainly am glad I lost that debate.
UAL has had a nice come back today. Still a lot of sellers in AAL. A number of shorts still need to cover if this is to have a nice bounce. If that doesn't happen then it will continue making lower lows and lower highs. At present it is still just making lower lows. Downtrend is still in tack.
First order of the day is always be honest with yourself and then you will be honest with.others. One who lacks integrity makes many mistakes. Second order of the day is do not beat yourself up. We all have bone in our heads so we are all boneheads. You are a special and gifted person. Be that person and do not attempt to be someone else. Life is good when you are true to yourself. We just remembered the many men and woman that gave theirs life's so you could do that. Do your part so they did not die in vain. You can do it.
Apple watch does have something to do with it. It is also the slow down for the average consumer. TIF andAAPL sell bigger priced products. The very wealthy do not stop spending. Those that are taking 3 part time jobs and still not making what they did before are not spending.
FOSL will be making new 52 week lows again today.
Those shorts need to cover. Maybe that is what was happening from 1 PM until close as there was a lot of shares changed hands with little movement. Hopefully they were covering with their clients shares that they were selling. If not it will not be going up very far.
They must still be shaking them out. Another nearly 2.5% drop again today on huge volume. Sellers, be they shorts or profit takers on the long side, continue to refresh with volume.
I bought some Friday thinking there would be a bounce on this oversold airline. With the gap up I will admit that I thought they would bounce a little higher then they did. I put a stop in at 42.75 because it hung out there for some time on Friday. Now it is just making lower lows. Another head fake and moving down rather easily. After the already big drop and serious drop again today on heavy volume will wait it out until this afternoon and see what happens. Sectors get oversold and folks start dabbling only to discover that they can get much more oversold. Already down another 2.5% today.
OIL down some more. Airlines are over sold. Did they cover enough on Friday to go long on Tuesday. Think they will be positive for awhile today. In this overbought market one needs to be careful as one of these days we will have a big fall and buying the dip is not going to be the play. For over six years it has been. GLTA