So this should be another reason that the market goes up? I sold my long at 50.65. Missed a lot of the gain because I thought with the early volume it would pull back some and then continue up. This was very negative economic news so I will sit back and see what kind of positive spin they can put on it before I go back long. I think that both VLO and HFC are good setups to go long but they may sell them back more yet.
Did buy this morning at 50.35. With this early heavy volume I will be holding to see what happens. Thinking it goes higher after a little pull back. We will see
Yes it is but I will wait until I see some covering before I buy. They take stocks much lower than they are worth when they short and much higher than they are worth when they are long. I would like to see some real covering not a little manipulation to then pull the bids for another big drop. These falling knifes often fall much further than one thinks they will. They have ganged up on these refiners just like they did on the drillers a little while ago. Drillers fell for 4 months and then sort of flat line for 3 months before they really moved up some. Market will still be here tomorrow,
Down over 3% on good volume again. They do care about the stock. It is doing exactly what they want. Making new lows for the day and doing it with some conviction as it has the last few days. Maybe they do some covering tomorrow.
They are not selling VLO because it needs washing. They are shorting VLO to buy a 2014 BMW. Reports are revealing that fundamentally things are fine with VLO. Wall street went short in the 58 area. Has been easy money for them. Now they need a few more real sellers so they can cover. If not they can cover as they short while still taking it lower. Great gig if you have the money. They have moved the whole sector down. VLO has had a little more collusion than the rest. It is still making lower highs and lower lows in an up market.They can move VLO down very nicely. In 2008 they moved it from 70 to 16. Wall street was shorting the whole time which created sellers galore. Yes they were laughing all the way to their vaults.
Funny slope to that floor. Maybe the level isn't working correctly. The one end appears to be getting lower and lower. Won't be long and it will be a wall. LOL
It is called wall street! You lose and they win. You do not make 100 million a day trading fair. Does wall street send their kids to IRAQ & AFGHANISTAN? GLTA
Got to love how VLO has been their number 1 target. They have been sitting on the offer and moving to the bid since last Tuesday morning. This is a typical VLO move with folks catching the falling knife.
These folks move the market. When they are buying(whatever sector) it is going up. When they short (whatever sector) it goes down. Barron's can say affect is minuscule but they are not trading. These folks will need to cover before VLO goes back up. VLO making lots of money and analysts are saying to buy while their brokerages are short. Give it time and they will be right again.
Big losses add up. Usually look for refiners to move up in July. We will have to see what happens this year.
The big money has to make money and they are having to take more sectors and stocks short to do that. They are short VLO, HFC, PSX, MPC etc. Think we will see some lower highs and lower lows as they continue taking them down. Fundamentally the news this week will have little affect on the earnings of these companies over the long term and nothing over the short term yet look at them again today. It is not going to be as easy as it has been to make money in this market on the long side.
Slow steady move. Is it worth 70 dollars a share? NO! Will it get there? YES! Is GPRO worth 40 dollars a share? No! But it got there. Wall street will make the money. Eventually they will go short again when there will be a lot of pain for a lot of people. Do not get caught holding as they are not going to keep going straight up.
Obviously they moved it up. I was wrong. Covered at 56.30 for 400 dollar loss. Think it will continue to have difficulty as a store but the big money will decide how it trades.
Appears it may go back down tomorrow. There are just not enough buyers. Once the shorts quick covering it has been a slow move down while market moving back up.
Has had nice volume buying. May be a number of shorts that took positions the four trading days before yesterday. That was an enormous amount of shares that changed hands yesterday. Just never sure what wall street is really doing other than making sure they take our money. I sold the shares i purchased yesterday. Some premarket and some at the open. Have bought back at 51.49 this morning again and will make a decision when to sell. Will sell today or tomorrow. Think this was a manipulated play in VLO.
I sold 1,000 shares myself in 4 trades. There still is not 4,000 share traded. Makes one think they may drop it. Maybe it is just going to take off as they are not willing to let their shares go this low. We will soon see.