When the big money has made a decision regarding direction you better not be on the wrong side. Fundamentals will not matter.
Folks that own shares of GM are observing their dollars flying away via that rear view mirror.
Moving GM down nicely and with little effort.
They are still selling at 121.60. Must be a few shorts in there. Maybe the buyers are morning shorts taking their nice profit for the day.
Buy backs normally have stocks going up. Now they are saying buybacks are negative. They can change the book any time they want. Easy money may be on the short side.
At present only OCN knows the truth and it is difficult to trust them.
That must be why FLR and CBI went up. JEC just received 2 more contracts today. With money available at such low rates this is the time for companies to get work done. Stocks that are not making any money are going up. One might think is has something to do with those that control the market.
Today URBN reminds one of Friday's in 2008. Fast and furious drops. GS in control. They would short and near the end of the day would cover with clients stocks who wanted to unload in the panic. It is easier than Monopoly for them. They really do have the monopoly.
Operative word is "suggest". Basically telling you we are going bankrupt.
GM very weak. Would have to be a big move up in the whole market otherwise looks more like new 52 week low.
Doesn't really matter when the folks that take stocks up or down are shorting and selling. If they are not buying many of the bids are shorts covering. They are not real buyers. Consequently those stocks fall and they fall quickly. GM sold the most vehicles in the third quarter since 1980, yet it hit another 52 week low. We are just the pawns in this game. One has to be very diligent and attempt to do what the big money is doing as we know what happens to most pawns.