Even if the numbers are good do not think that they let it go too high. When I look at MNK with great numbers and a knocked down stock price there was a big jump at the open and then a move down most of the day with a continuation down today. Wall street makes sure they make money so would be careful here if you are a trader. Much lighter volume today with easy moves taking it down very quickly the last 10 minutes. Obviously no big money folks buying to keep it up. Maybe correction coming in the market so stocks will go down anyways.
The MNK earnings put a little fear in some of the shorts. Could have very good earnings on Thursday. Could not measure up also so be nimble.
Do think it will be higher in six months unless we have a fallout in the market and everything goes down.
Do not think that they are similar as to the manner and degree that they make money. Gouging to the ridiculous by VRX while gouging within meaningful parameters via ENDP. Do think that we have some move up into Thursday earnings. We will see.
I have gone long AAL.
This may not be the bottom of this lower low. It may go lower yet today or on Monday. There is often a bounce off the previous low. I had a very healthy gain so too much greed usually not wise.
I covered at 34.11. That was where I put my buy price to cover. I nearly covered in the morning yesterday when Morgan Stanley upgraded but there was no real buying so kept it at the previous 52 week low which was 34.10. Still in a downtrend but has fallen for 8 strait days. Looking for a bounce and then another opportunity to short. It could still drop right thru 34 and keep falling as I really have no idea where the bottom is. Next bottom could be 30 or it could be 25.
Can not give the exact figure but I covered my short at 34.11 that I shorted on the 20th. Waiting to see how much of a bounce we get off the double bottom. Could be a move up to a lower high. Still think it remains in a downtrend. May even fall thru the 34 but for the present will be happy with the gain.
Shares still lining up on the offer to be taken. Folks want out of this flea invested plane.
No trickery just straight down for 8 days. Brings back some memories of 2008. Of course this beauty has been going down since March of 2015. When fear sets in the stock just goes down faster. The buyers are gone with the short covering being the buyers. You are seeing the fear now.
All the airlines are getting taken down. It doesn't matter what Parker does. Wall street exacerbates the problem with lots of shorting that they use to cover many of the clients shares that they are being requested to sell.
They have a guaranteed market for covering at a lower price.
And the market is only down 100 points. Could get very serious if wall street decides to have a nice little short attack resulting in retail selling their funds. Not sure where the fun in that comes from.
Market looks like it is not going to wait until Monday. Switch over to selling refiners while still moving airlines down nicely.
Webush also upgrade MOH to 82 yesterday and look at it today. Has dropped to 53 with a big miss. They are definitely on top of things. Actually maybe they are. Get others to buy and they short.
Looking for a move under 36 today. If May brings correction AAL will be flying much lower. Folks say is doesn't make sense. Wall street just makes money at the retail's expense. I mean CVX at 103 when it is losing money.
Folks can get upset all they want but wall street doesn't care. They will take whatever sector they want down while taking another up.
Looking for new 52 week lows in AAL as we have a few selling days in May.