Maybe not be that big of a move but it was a quick 50-60 cent jump. Will be looking forward to what this if anything means for MU. Have no position presently but is on my watch list.
Actually INTC is buying ALTR. MU is collaborating with INTC for some work which I suppose was the reason that MU took off. I do not want to be greedy because i did make some money on that trade but it would have been nice if INTC bought MU. Now that isn't going to happen after purchasing ALTR.
We did say that wall street would decide. Admit that I bought 2,000 at 26 .10 for Monday. It just took off. Sold 1000 at 26. 58 and another 1000 at 26.63. Do not have any for Monday now.
It is a great stock for wall street. The cheerleaders I would venture to say are those longs that purchased between 30 and 36. They succumbed to the cheer liars that told them that without a doubt this was going to 45. Now they hope it is going back to 30. I am not poking fun at them as it must be very painful watching this stock to continually go down. I have been there. I bought DE in the high forties in 2008 an watch it go down to the mid 20's. Granted DE is a different company and did come back and went much higher. Far more competition in the semi sector. For their sakes I hope it comes back.
That is the sound of wall street celebrating as they exchange shares with clients that are selling. They are just using their trading shares that they went short with this morning. They already have an investment position short from 34 -35. Now they cover the trading portion from today with clients that want out. Remember that many clients bought in the teens and are now afraid that it is going back to the teens. They are kicking themselves that they didn't sell at 35 but wall street convinced them MU was going to 45. This way they get out with a gain. There is a reason that wall street firms make over 100 million a day trading. It definitely isn't because we all play on the same playing field.
We will see. Wall street dictates. There has been a lot of shares exchanging on the bid. Maybe they change that in the last 2 hours.It doesn't always mean there are buyers on the bid. Could be shorts covering that will short again.
Big down days going into the week-end.
Good volume selling with lots of shares on the offer. Probably have a number of clients wanting out. Nice time for brokers to short and then they will have lots of shares available to cover. May see a little bounce back.
Easiest way for wall street to make money now is short. MU is a good trader with lots of shares trading. They are hitting semis hard. Will need to make sure you are not long in the sector they are shorting. They delivered supposedly more good news for MU this morning so a little gap up and then the trap. Works even better when the stock is already beaten down as the retail fellow jumps on only to experience this.
Appeared that it was going to move up. It did move up but then in a few minutes it dropped from 59.31 to 58.01. WOW! One needs to trade this market with caution. May be the drizzle before the storm.
Actually it does appear that is what the smart money is doing. They are using this time to short it and they will probably cover the beginning of next week unless they have some inside knowledge which will mean that they will take it down even more and quicker after report. Of course while I have been typing I see that they are doing exactly that. I am thankful that I decided to get out in November and stay on the sidelines when I saw all the hype regarding it going much higher by many analysts and yet it went nowhere. Appeared to be an indication that they were doing the opposite to what they were saying. Now from 34 we are at 26.25 and still falling. The market has not even had a down turn yet. As much as wall street is making a killing I think many retail traders are getting smoked. GLTA
Not yet. Why would the shorts stop now. No buyers. Most of the buying is just shorts covering and shorting again with their trading money? They already held a main short position.
We may have the start of a correction in the market and KLAC is already at a 52 week low. Not looking positive for longs. Whoever owns the 162 million shares are certainly hurting.
Have to admit that I did not anticipate KLAC losing this much in one day when it had no news and has went under 60. Covered 1000 at 59.95 as it was taken. Will hold the remaining 1000 as am thinking that it will make another 52 week low.
Even though MSFT is down rather huge today I am not covering. Think that it continues to make lower highs and lower lows here. Looking for it to move lower into the 40's. They may wiggle it up a little to entice a few retail folks to buy then move it down more.
Last couple of days good news onNVDA. So today Goldman puts out a sell on NVDA. Whole sector tanks. Wall street making another bundle shorting.
They have sold the little run in MSFT, KLAC etc. and are now short. Looking for a sustained drop today. No big run up at the end of the day. Not even lunch and selling continues.
this is going to be a significant down day in Semi stocks. Brokers putting a number of negative suggestions forth,