EMMA, EMMA! Relax! This stock is going back up. It hit a bottom today as brokers cover with mutuals(their clients) stocks. Not a lot of price action the last 3 hours but lots of shares changing hands. Brokers making millions while little folks(mutual fund holders) losing again. Some of the brokers have held this from 98. You may have paid much higher than 50 so I get your frustration. Give it some time. Do not even look at the stock.
Higher than normal volume with continued refreshing on the offer. Brokerages selling clients shares. The ironic thing is that they are the buyers as they cover their shorts with clients shares. Great gig if you can get it.
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.